Maritime shipping is the fundamental part of world trade. Many industries are associated with it. Shipping is used to transport food, medicines, technology equipment and much more. For growth and sustainable development, cost efficient mechanisms of shipping are followed, especially in the developing world.
There is no country in the world that is sufficient enough to live without maritime shipping. Since trade and commerce entirely depends on maritime shipping, therefore it becomes an essential component for driving the economy of the world. Our daily use products are transported via sea as raw materials or finished products.
Maritime shipping is the heart of global trade and economy. The industrialized world has increased the importance of shipping. The standard of living has increased as the finished products reach all parts of the world. It is possible due to the advancement of the shipping industry. The livelihoods of many people depend on this industry.
Maritime transport is an economical way of transport when it comes to international commerce. There are many benefits of maritime shipping. The most significant advantage is that there is a huge capacity of ships that are used for transport. There are a lot of materials that can be transported at one time. The price of the transport route is low as compared to other modes of transport. The sea does not require any large investments regarding infrastructure. There is no country except those which have a compromised geographical location which do not use maritime shipping for trade with the world.
The economic use of energy by the ships makes maritime shipping a better option than other ways of transporting materials. One of the biggest reasons for opting maritime shipping is its economic aspects. The economic reasons make it a viable option for trade and commerce.
The primary concern with the onslaught of piracy and global terrorism is the security. Over the years, we have witnessed from the reports that sea transport is safer than other means of transport with respect to trade. Thus, it is preferred by the world because it is a safe means of transporting goods.
One of the greatest advantages of maritime shipping is that it is friendly to the environment. The shipping industry is focused on developing fuel efficient engines of the ships which result in reduced emissions of greenhouse gases. The carbon dioxide emissions are reduced when the ship travels a larger distance with the same amount of fuel. Therefore, maritime shipping is comparatively less harmful to the environment than other means of transport.
Lastly, the strategic advantage of maritime shipping for any state in the international relations cannot be neglected. There are many stakeholders involved in maritime shipping due to its extended scope. The countries linked with the maritime trade routes always gain a strategic advantage in international relations. All the countries have economic interests associated with maritime trade. These reasons result in making the importance of maritime shipping in diplomatic relations with other countries.
Maritime shipping is crucial for any state in different ways. If the state focuses on it, there are manifold benefits for the country. It influences the overall economy of a country. Since many industries are directly or indirectly linked with maritime transport, the progress of a country depends on it. There are many countries which take advantage of their location and gain a lot from maritime shipping. The economic advantage to Egypt with the presence of the Suez Canal as a maritime trade route is a classic example. Being one of the oldest ways of transport, maritime shipping is increasing its importance in the realm of world trade.
