Our world may not be at peace, it may not be perfect, and may not be a problem-free planet. But, one thing is for certain, it is globally connected. And, what industry makes the biggest contribution to the global economy? The international shipping industry.
Many people overlook shipping and its importance to globalization. But then again, many people fail to recognize the sheer magnitude of the worldwide shipping market, just as few investors realize the alternative investment opportunities the prospering industry presents. For example, on an average year, approximately 86,000 shipping vessels carry more than 9 billion tons of cargo across the world’s oceans. That amount is greater than one tone per human being on this planet. It is because of this sheer volume that we have such an efficient global economy. In the past we may not have been able to achieve this amount of cargo, but nowadays shipping lines have the ability to stack cargo containers uniformly on a shipping vessel, to maximize the amount of space used and goods transported.
While it would be possible for the world to be internationally connected without the use of ships and shipping containers, the affects would not be as significant. As it stands, our world and its economy revolves around these ships and the containers they carry. Without them, billions of goods could not be imported, exported, bought, sold and distributed throughout the world. Given that shipping containers currently carry over 200 times the amount that parcel services do, it is easy to see why they are vital to the growth of the U.S. economy.
Stores like Wal-Mart completely rely on shipping via containers to stock their shelves. Without container shipping, countries like the United States would not be able to import the amount of products they do from foreign countries, such as China, Taiwan and Mexico. These products are what the U.S. economy is built on and other countries are no different. With that being said, global container shipping has revolutionized the way we transport goods and thus has given new life to globalization.