No world trade without shipping

6th June 2017

There is no denying of the crucial role played by shipping in our globalized world economy, as evidenced by the 90% share of sea-borne transport in the worldwide movement of goods. Therefore, there is no world trade without shipping. No other means imaginable would be capable of carrying clothes, food, oil, cars, electronics, etc. on such a large scale over thousands of miles. The shipping routes are the very arteries of our world economy, providing the system with its blood and oxygen. Without shipping, one half of the world would starve (due to a lack of food imports) and the other half would freeze (due to a lack of fuel supplies). Sea-borne transport is cheap, even cheaper than any other means of transport, because of the scale on which goods can be carried and the inherent high-efficiency of this transport mode. Shipping dramatically reduces the share of the transport cost in the overall product price. Consumers worldwide will be the last to complain.