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The international shipping industry is responsible for the carriage of about 90% of world trade and is vital to the functioning of the global economy. Without shipping, intercontinental trade, the bulk transport of raw materials and the import/export of affordable food and goods would simply not be possible. It is the availability, low cost and efficiency of maritime transport that has made possible the major shift towards industrial production in Asia, which has in large part been responsible, in recent years, for dramatic improvements in global living standards. Notwithstanding the recent contraction in trade resulting from the present economic downturn, the world economy is expected to continue to grow and shipping will need to respond to the demand for its services (unless existing patterns of global trade were to be fundamentally transformed). Shipping is an inherently international industry which depends on a global regulatory framework to operate efficiently. If a ship trades from Brisbane to Buenos Aires, the same rules need to apply (for example: concerning construction, navigation or atmospheric emissions) at both ends of the voyage. Otherwise there would be chaos and serious inefficiency. For over 50 years this global regulatory framework has been very successfully provided by the United Nations International Maritime Organization (IMO). World seaborne trade (billion tonne miles)
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This site has been developed by the International
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