Marine Transportation: A Global Outlook
San Jose, California (PRWEB) January 16, 2012
Follow us on LinkedIn – Maritime transport plays a very important role in the world economy, given that almost 90% of goods traded across borders are transported on the oceans and seas of the world. In fact, saving in bulk goods shipping over long distances can be marked as one of the major developments that have underpinned the late 20th century globalization. From being just a resource for linking production and consumption centers, the container system has grown in stature to now being associated with intrinsic logistic networks that support global production networks.
Global maritime transportation hit an all time low in 2009 as the world economy slowed down with deepening financial crisis. Seaborne trade volumes slipped drastically amid contraction in export volumes as a result of drop in demand for consumer goods and slowdown in industrial production in major world economies. The industry was also affected by low energy demand in oil trade sector, primarily from the developed nations. Oil seaborne trade was impacted by energy prices and increasing environment concerns such as global climate change. Oil demand fell sharply in Japan and the US thereby affecting the global demand, while energy consumption in developing economies of Asia and Middle East continued to grow. However, global seaborne trade resumed activity in 2010, reporting an increase in general cargo and coal transport, albeit at a modest rate due to recessionary hangover, and restructuring drives. Although the industry picked up traffic volumes in 2010 and 2011, it is yet to witness the peak volumes reached in 2008.
Major sectors of marine transportation are witnessing renewed activity post recession. Buoyed by improved economic conditions across the globe and strong demand for sea-borne trade, dry bulk shipping industry witnessed an increase in growth in 2010. Persistent demand from East Asia, spearheaded by a robust demand for the commodities in countries such as China and India, signified the key factors continuing to fuel the dry bulk shipping sector. Major factors driving growth in dry bulk shipments are revival of demand for sea-borne trade and a substantial recovery of global steel industry. Renewed activity in the global steel industry resulted in increasing demand for iron-ore and coal resulting in increased export of coal and iron-ore.
Technological innovations in vessels such as self-unloading of ships, computer aided navigation and global positioning systems have led to minimum use of energy, improved safety and reduced construction costs apart from providing greater safety with less number of men. However, rising costs of fuels, overcapacity and over investment are challenges impacting growth of the industry. Other issues such as infrastructure insufficiency, port congestion, trade imbalances, sustainability and safety continue to plague the industry.
The research report titled “Marine Transportation: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global marine transportation industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, United Kingdom, Australia, China, India, Philippines, Brazil, Argentina, South Africa and the Middle East among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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