Introduction to Shipping Industry

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Business transaction arise from the demand for goods. Goods needed at a certain place are not neccessarily produces at the same place. Thus there is a need to transport the goods from the place of production to the place of consumption.

The intensity of the need for transportation services depends on the strength of the demand of the goods and the availability of supply. Indeed, it is this need that shapes and decides the role as well as the future of shipping industry.

It has been said that as much as 90 percent of the total international trade are transported by sea. Hence, the shipping industry has a vital role to play in international trade.

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