Maritime shipping, plainly put, is the silent ‘fuel’ that moves everything on nearly every product you own through the vast global trading system. Between sea and sky is a world of commerce in transit, transporting the raw materials that we use to build things and the finished products that we buy and use in our daily lives – shaping economies and livelihoods across the globe.
Maritime shipping is not just a part of international trade, it is the lifeblood that keeps it pumping. This industry is responsible for moving a staggering 90 percent of all global trade, equating to a mind-boggling 11 billion tonnes every year. Picture this: over 50,000 vessels traverse our planet’s oceans, connecting nations and markets to maintain stable and efficient global supply chains. These mighty cargo ships are the unsung heroes that keep merchandise affordable, transporting massive amounts of goods on each journey.
Yet shipping, despite its appearance as a wheel in the economic machine, is also one of its giants of employment – it supports almost 2 million people globally, from the seafarers who pilot their hulls through storms to the builders who assemble them from iron, each one stronger than sword and pebble. It maintains a powerful hold over prosperity in many nations whose existence depends on maritime trade routes.
Strategically speaking, the power that comes with maritime routes is bestowed on nations linked to them, increasing their global influence in freight and diplomacy: take the Suez Canal, the backbone of international trade, funneling riches to Egypt and providing shipping companies with significant cost savings for trooping through their waters.
Nonetheless, and despite its economic power, the maritime industry is highly sensitive to its environmental impact. Comprising just 1.7 percent of global emissions, the industry is spearheading efforts to reduce its environmental footprint by improving the efficiency of fuel consumption and reducing the emissions of greenhouse gases. The UN Conference on Trade and Development cites, as an example, that maritime shipping seeks to reduce its greenhouse gas emissions to zero by 2050. Our industry is set to take centre stage in the UN Climate Change Conference (COP-26) in a spirit of reducing emissions and actively committing to safeguard the future of our planet.
The benefits of maritime shipping are as boundless as the oceans; its cargo capacities are, by some measure, 11 times greater than those of terrestrial transport. It uses natural waterways, requiring comparatively low investment in infrastructure. The safety record is near-perfect, reassuring businesses and consumers of the safe and secure shipment of goods over vast tracts of space.
Conclusion: In the end, it is what makes maritime shipping more than just an industry. It is indeed the great thread that holds together the tapestry of global trade, jobs, and sustainable development. In the years ahead, maritime shipping will continue to be the thread that holds together the world.
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