Global economic
growth is driving the cargo shipping market. In the past decade, cargo shipping
market has fared quite productively. Depending on the cargo and the type of
storage, loading, receiving and securing it would require different types of
ships for transportation. Investments in port infrastructure and the global
supply-command cycle will have a positive impact on the shipping market.
Growth in countries
forging free trade agreements like AFTA (ASEAN Free Trade Area), TPSEP
(Trans-Pacific Strategic Economic Partnership), and NAFTA (North American Free
Trade A agreement) will drive the cargo shipping market further. The demand and
supply for sea transportation has augmented and five key things to be
considered in the cargo shipping market are economy, average haul, seaborne
commodity, random shocks, and transport cost.
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The growth and progress in trading drive the cargo shipping
market. Container transportation is increasingly adopted globally to transport
goods. It acts as a major driver for the cargo shipping market in the both -
developed and developing countries. Cargo shipping firms are facing challenges
to a great extent owing to global environmental changes and geopolitics. The
Cargo shipping industry is segmented on the basis of cargo and industry type
and infrastructure initiatives such as development of new ports and extension
of existing ports lead to growth of the cargo shipping market.
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