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Shipping and the Global Economy

Consider the following from the
International Maritime Organization...
Shipping and the Global Economy

Today almost no nation is fully self-sufficient. Every country must sell what it produces and acquire what it lacks. None can depend on domestic resources alone. Ships have always provided the only really cost-effective method of bulk transport over any great distance.

MORE THAN 90 PER CENT OF GLOBAL TRADE IS CARRIED BY SEA.

The transport cost element in the shelf price of consumer goods varies from product to product, but is ultimately marginal. For example, transport costs account for only around 2% of the shelf price of a television set and only around 1.2% of a kilo of coffee. There are more than 45,000 merchant ships trading internationally today, transporting every kind of cargo. The world fleet is registered in over 150 nations, and manned by over one and a quarter million seafarers of virtually every nationality.
Without international shipping, half the world
would freeze and the other half would starve.
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