International Shipping – Facts, Figures, and Fundamentals

 The international shipping industry is a mammoth one, forming the lifeline of the global economy. As per the International Chamber of Shipping, the international shipping industry accounts for about 90% of the world’s trade. Shipping has led to the evolution of the global economy, contributing to the growth of all sectors, industries, and nations. Intercontinental trade and transportation have become the norm now, courtesy of the shipping industry. Also, the import and export of affordable food items, manufactured goods, and essential commodities like medicines and health equipment have all become possible due to the advancements in the shipping industry. Apart from trade and commerce, our daily lives have benefitted much from the growth in this industry. Thus, if you want to post a package overseas or transport your belongings from one country to another, you will find dozens of service providers at your disposal for the job. Courier company giants like FedEx USA have expanded their business by leveraging the international shipping industry.

The international shipping industry is heavily regulated. With ships crossing the international borders, the industry falls under the governance of various United Nations agencies. The International Maritime Organization (IMO) regulates the industry, with universal maritime safety rules and a comprehensive regulatory framework. Owing to its international stature, it complies with all safety rules and regulations across the globe. Moreover, the shipping industry was one of the first forms of commercial transport to implement international safety standards.

From an environmental perspective, the shipping industry wins hands down when compared to the other forms of transport. It causes the least environmental damage and has always taken care that the rise in maritime trade does not happen at the cost of marine pollution. It might be astonishing to note that human activities cause more damage to our seas than the shipping industry.

International shipping is one of the most affordable ways to transport cargo. Thus, it explains the USA to China cheap shipping options. Be it adjacent countries or continents on two sides of the globe, the industry never fails. Probably, the only thing they are looking for is the solution to their communication challenges while in the open sea.

The shipping industry is massive but difficult to value as there are mismatches in reporting standards and fluctuations in currency values. However, certain indexes help to track the fortune and worth of the shipping companies and industry in general. These are The Baltic Dirty Tanker Index (BIDY), The Baltic Dry Shipping Index (BDIY), and The China Containerized Freight Index (CCFI). To understand what it is worth, one should know that the industry generated $380 billion in freight charges in the recession year 2008. Thus, oblivious to all this information, many investors might have missed out on capitalizing on the international shipping industry. However, it is still not late, and the industry promises a bright future.


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