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3. What is the future of the Bulk Shipping Market in the next three years, (2012/5) in respect of capacity, trade and port facilities - Essay Example

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Shipping industry plays a major role in global trade given that it contribute two thirds of the worlds goods transported to different destinations (Branch 2007). However, the global economic crisis has severally affected shipping building industry. Nevertheless, with its…
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3. What is the future of the Bulk Shipping Market in the next three years, (2012/5) in respect of capacity, trade and port facilities
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Extract of sample "3. What is the future of the Bulk Shipping Market in the next three years, (2012/5) in respect of capacity, trade and port facilities"

Download file to see previous pages Furthermore, with increased demand for oil all over the world, the market for shipbuilding is forecasted to increase by 2015. However, prediction of the future of shipping could be a difficult task. Therefore, given the statistics of shipping in the past and current ones, it would only be applicable to focus on what is happening, what might happen, and what ought to happen (Branch 2007). Some of the issues to investigate and assess their implications as far as the future trends are concerned include and not limited to, capacity, trade, and port facilities. In fact, these are core issues to be considered by all other sectors in the market worldwide.
According to current statistics, economies of both developed and developing countries have tremendously grown over the past few years. A major contributor of this growth in world economy and globalisation is the dry shipping market which plays a major role in the international trade (Global Dry Bulk Shipping Industry Report 2011). With this kind of a trend, it is possible that this development would continue in the coming years if all the stakeholders channel their energy in improving the economy. According to global dry shipping industry report 2011, the global seaborne is expected to grow at a rate of 4.6% between 2012 and 2015 (Global Dry Bulk Shipping Industry Report 2011). Cost reduction is considered to have a big share in revolutionalising the shipping industry. However, there are many factors attached to cost reduction and which can plays a role in enhancing cost reduction (Madura 2006). One of these factors is a revolution in international communications. With the new era of internet and technology, it is easier to call abroad, send a broadcast telex and store cargo booking information on a computer.
On the other hand, environmental issues that posse big threats to the world economy are treated with concern by the shipping industry. ...Download file to see next pagesRead More
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