What is the future of maritime shipping?
Factors like safe shipping, increased seaborne trade, and the use of greener fuels will further drive India's maritime logistics industry growth. The maritime logistics industry has a bright future with technological advancements and the government's multiple projects already in place.25-Nov-2021
The smart ship and autonomous technologies are examples of developments used in the modern marine sector. Improvements in shipbuilding (megaships), advanced materials, smart shipping, propulsion, robotics, big data and sensors are making the work on the Earth's waters easier.21-Dec-2021
What is the importance of maritime transport?
Introduction. Marine transportation drives 80–90% global trade, moving over 10 billion tonnes of containers, solid and liquid bulk cargo across the world's oceans annually (Walker et al., 2019). Throughout history, people and goods have moved between continents and across oceans by sea.
The industry needs professionals with various competencies such as Finance, Marketing, Marine Management, Operations, Supply Chain, Logistics, HR, Legal to manage onshore operations. It also offers opportunities onboard ships for seafarers, engineers, medical practitioners, cooks, and so on.25-Sept-2021
Is maritime industry growing?
The global Maritime Safety market size to grow from USD 23.9 billion in 2021 to USD 33.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.9 %08-Apr-2022
Maritime industries face many challenges, such as persistent supply and demand imbalances, environmental imperatives, employment issues related to the aging of the labour force as well as the safety of workers in the shipbuilding and shipping industries.
What are the future issues in international shipping and transport management?
Top 10 issues concerning the future of shipping
UNCTAD: 7 Key Trends Impacting the Shipping Industry's Future
Why technology is important in maritime industry?
More than ever, the maritime industry relies on information and communication technologies. ICT systems add value to the sector by connecting ships, ports and people. Digitalising your ship operations generates a range of data that helps you make better-informed operational decisions across your fleet.26-Jun-2022
The demand for marine transportation services continues to increase due to the rise in global trade. If you want to pursue a career in this field, you should consider some important questions before starting out.14-Jun-2022
How does maritime transport contribute to the economy?
International transportation has long been recognized as one of the main drivers of development in achieving economies of scale. Shipping, and by extension the logistics and supply chain industry, account for 35% of the value of global trade which is dependent on ships to transport bulk cargo over long distances.
Maritime transport is the backbone of international trade and the global economy. Around 80 per cent of global trade by volume and over 70 per cent of global trade by value are carried by sea and are handled by ports worldwide. Global seaborne trade is doing well, supported by the 2017 upswing in the world economy.
Is maritime a good career?
Career Security Even though it has been wounded during the pandemic, the maritime industry has been in existence for thousands of years, and a good sailor is always needed in every part of the world. This makes maritime a secure career choice.02-Sept-2020
There is a wide range of scope in logistics and shipping. After completing your degree, you can join government/ private shipping companies and various port agencies in India or in abroad. Shipping industries are one of the best sectors to make your career. Marine engineers can also join the merchant navy.
Is shipping a good business?
Shipping is a rapidly growing business opportunity and can be profitable for both independent businesses and franchises. For those who prefer a turn-key approach to business, a franchise like a UPS Store, can provide owners with quick earning potential in the postal and business services industry.
Maritime Industry Segments
How big is the maritime industry?
As of 2019, the total value of the annual world shipping trade had reached more than 14 trillion US Dollars.
The industry has a direct impact on much of our everyday lives. Think about the oil that powers our cars, many of our vehicles, our electronics, the coffee we drink, the foods we eat, and the clothes we wear… most come from overseas.
What is the biggest challenge in the maritime industry today?
Biggest Challenges in the Shipping Industry Today
We expect container shipping companies' performance to remain strong in 2022 as container freight rates stay exceptionally high – despite some moderation since February 2022, due to port congestion stemming from the prolonged Covid-19-related operational disruptions.13-Jun-2022
Why seafarers quit their job?
Erratic sleeping schedule, excessive working stress, unfriendly environment, unavailability of fresh food, and inadequate medical facilities drastically affect seafarers' health.11-Mar-2021
What is the future of maritime shipping?