Shipping and World Trade
The international shipping industry is responsible for the carriage of around 90% of world trade.
Shipping is the life blood of the global economy. Without shipping, intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply not be possible.
Ships are technically sophisticated, high value assets (larger hi-tech vessels can cost over US $200 million to build), and the operation of merchant ships generates an estimated annual income of over half a trillion US Dollars in freight rates.
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