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Shipping

Overview of the shipping sector

The shipping sector is one of the significant and influential segments of the global industries. It is due to the segment being one of the primary means of hauling goods, with the total value of the transported wares reaching more than $14 trillion. It is due to the segment hauling up to 80% of the global trade volume and around 70% of its value. For example, in recent years, the sea trade volume has reached 12.3 billion tons.

Is the sector valuable?

The segment can transport the wares of diverse industries, such as oil, gas, consumer goods, and chemicals, because of its varied range of ships. These encompass tankers and bulk carriers. The shipping methods vary from liner and tramp to chartering. Such vessels and methods are operated and tended to by more than 1.89 million seafarers. Approximately 20 million working specialists, including engineering experts, shipbuilding crews, port and onshore staff, similarly tend them. Likewise, the shipping industry is anticipated to reach a market size of around $16.7 billion, with some seafaring vessels having a carrying capacity of more than 24,000 TEUs.

What are the leading causes for its development potential? Among the leading causes for its development potential and current size is its high focus on innovation. It allows it to adapt to the latest challenges and market trends. Generally, they present them during trade expos. It includes events held annually and biannually in various countries. Over half a million attendees attend them.