Shipping is a significant industry in the global economy contributing majorly for the transportation of cargo goods. It contributes to international trade and provides employment opportunities to many workers. International shipping covers 90% of the global trade by volume capacity. Global shipping involves tankers, bulk carriers and container ships. Majority of shipping is now done through the containers which provides physical safety to goods and is economical in nature. Modern shipping is now a major part of supply chain network which connects different ports in the world.
Shipping industry is expected to decline till 2015 due to weakened economy which lead to less demand for the products. This is also marked by lessening of the freight costs which affect the companies and oversupply of capacities which affects the efficiency of the companies. The weakened global economy will force the companies to form alliances in order to serve the market. As the ships cost less now , many of the top shipping companies are buying bigger and more fuel efficient ships to carry the cargo. This may negatively affect the industry which has overcapacity problems.
list of major shipping companies in world
|2||Mediterranean Shipping Corporation||Geneva||Switzerland||1970|
|3||CMA CGM Group||Marseille||France||1977|
|5||COSCO Container L.||Beijing||China||1961|
|7||Hanjin Shipping||Seoul||South Korea||1949|
|12||Hamburg S�d Group||Hamburg||Germany||1871|
|14||Yang Ming Marine Transport Corp.||Keelung||Taiwan||1972|
|15||PIL (Pacific Int. Line)||–||Singapore||1967|
|18||Hyundai M.M.||–||South Korea||1976|
|21||Wan Hai Lines||–||Taiwan||1965|
|22||X-Press Feeders Group||–||Singapore||1972|
|26||TS Lines||Hong Kong||China||2001|
|28||RCL (Regional Container L.)||Bangkok||Thailand||1979|
|34||Arkas Line / EMES||Istanbul||Turkey||1996|
shipping company takes the responsibility of transporting goods from one place to another over sea, land, or air. major shipping is still done through sea routes as it is very economical and cost effective. Large global shipping companies have a large number of shipping vessels with huge capacity and are thus able to handle very large cargoes.
Land shipping involves transportation of the goods either by train or truck. When shipping is being done domestically, trucking is often more convenient both for the shipping companies and for its clients. Land shipment may be cheaper than the air shipments but costlier than the sea shipments. Trucks and vans are an integral part to the system as they required even when the shipment is by sea or air in order to carry the goods from the origin to the sea or air port.
For international trade, sea shipment in large shipping companies is the most convenient and inexpensive way to transport the bulk of the goods. Although this takes more time than the air shipments, it can support the transportation of cargo of any size, weight, or quantity.
Sea shipping, also known as merchant shipping, is very important for the international economy in carrying out the bulk of international trade. Air transport is used by shipping companies mainly when the product must to be sent in very short time.
The billing method of shipping can vary from product to product and also from company to company. These are the types of billing generally utilized by shipping companies:
Freight on Board
Cost and Freight
Cost, Insurance, and Freight
Some shipping companies specialize in furniture shipping, motor shipping, car shipping, and even in breakable crockery shipping in a large scale. Depending on the requirements, choosing the correct shipping company may be difficult. Most shipping companies offer a kind of integrated service known as Multi Modal Transportation that generally covers movement of cargo by air, sea, and land. The smaller shipping companies are best suited for personal shipping, while for national or international trading businesses rely on the famous global shipment companies.
Last Updated on : 27th Sept. 2013