Rise in Cross-Country Trade to Boost Prospects in the Merchant Shipping Market, According to a New Report by Global Industry Analysts

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Growth in the merchant shipping market is anticipated from the rise in transportation of goods and people through sea, and advent of technologically advanced ships that offer efficient operations at lower transportation costs. Globalization, increasing mobility of workforce, and new taxation policies are offering new opportunities and challenges for the industry.

Merchant Shipping: A Global Outlook

Shipping is a critical link in the growth of global economy that is driving intercontinental trade, import/export of various of goods, and bulk transport of raw materials. Shipping industry accounts for about 90% of the trade conducted across the world, a fact that is partly attributed to the environment friendly nature of the transportation mode. Merchant shipping industry is anticipated to benefit from the growth in global business operations, flexible taxation policies and sustained profitability of several industries. Another factor driving up the merchant shipping market is the slew of technological advancements, which are encouraging the development of innovative and large ships with improved communication and safety features. Apart from the ability to carry large volumes of cargo, modern ships such as oil tankers, containerships and bulk carriers are also environment friendly.

Container shipping sector is expected to grow rapidly, owing to the higher advantages offered in terms of speed and efficiency, along with reduced cost of transportation. Containerization of ships altered the heterogeneous cargo profile of ships to homogeneous cargo leading to easier and faster handling of cargo at ports for loading and unloading. The transformation also aided in lowering cargo-handling costs at ports, thereby enhancing the profitability of shipping companies. These factors are contributing to the increased adoption of container shipping for transportation, particularly in developing countries of Latin America, Asia and Africa, as well as in developed countries of Mediterranean and Baltic regions. Benefits offered by containerization are also contributing to its growing popularity in the general cargo sector.

Maritime activity is a major source of income for several developing countries, as a result of which their participation is increasing in terms of manpower supply, port services, and other auxiliary services for the shipping sector. Registration of ships, ship recycling, ship owning and operation, repair and port services, and shipbuilding are the major services offered by developing countries.

A major cause for concern in the shipping sector is the safety and sustainability issue as sea transport involves considerable risk. Consequently, several international regulations have been developed to enhance the safety profile of shipping industry. Another challenge for the industry is the need for extensive financial investment, necessary for keeping pace with the continuous environmental and technical developments in the market. The wide range of taxes levied on maritime businesses, and the need to comply with numerous regulations constitute major obstacles for the industry.

The report titled "Merchant Shipping: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Richly laden with quantitative analysis, the report offers discussion on the basics and structure of the Merchant Shipping industry. Annotated with 52 information rich tables presenting research findings, and analytical projections, the synopsized market discussion provides a statistical insight into global marine water transportation market size by region, marine ports and services market by region, leading cruise ship owners by gross tonnage/berths, trading fleet & merchant shipping fleet by ship type, cargo traffic by volume, containerized freight traffic by volume, container throughput across ports by region, chemical cargo, seaborne coal, and iron ore volume shipments by category, among numerous other parameters. The abstracted regional market discussions provide a prelude to these markets. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 482 companies worldwide.

For more details about this research report, please visit
http://www.strategyr.com/Merchant_Shipping_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site http://www.StrategyR.com

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