Shipping and Navigation

Authored by: Jeanette Reis , Kyriaki Mitroussi

Routledge Handbook of Ocean Resources and Management

Print publication date:  October  2015
Online publication date:  October  2015

Print ISBN: 9780415531757
eBook ISBN: 9780203115398
Adobe ISBN: 9781136294822


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Shipping was the world’s first truly global industry. The transportation of people and cargoes from one place to another by sea pioneered global trade and has since been regarded as a useful barometer of global economic development (Ng and Wilmsmeier 2012). To some ship owners, the industry is very personal – providing the basis for a rich culture, steeped in tradition. Yet as a business, it is specialised, capital intensive and subject to considerable variations in profits. Approximately 90 per cent of all transport takes place by sea, primarily as it is considered to be the most cost-effective mode of long-distance transport (IMO 2009a). Consequently, current seaborne trade amounts to approximately 8.7 billion tonnes per annum and continues to grow (UNCTAD 2012).

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