The global economy literally revolves around the shipping industry and vise-versa. The two go hand in hand. As one goes so does the other. It is of utmost importance that the shipping industry keep ahead the world’s growing consumer demands and in the past decade it has been investing trillions of dollars, in order to do so. One way the industry expects to stay ahead of the demand is by building huge shipping container vessels, to carry the additional cargo from international port to international port. Maersk is getting ready to launch the world’s biggest container vessel in July 2013 and it will have the capability of transporting over 18,000 TEU’s, representing about a 20% increase in capacity over the previous largest cargo ship.
In past decades, the global economy has grown at a manageable rate but since the year 2000, the world’s GDP has doubled and it is expected to double again by 2020; and again by 2030. If the shipping industry is unable to keep up with the huge growth in demand for their services, the whole global economic system will become inefficient and countries’ domestic economies will suffer as a result. To address this, the industry has come together over the past five years, to build the proper infrastructure in order to facilitate the rapid growth; that has occurred. Many countries have invested trillions of dollars upgrading and modernizing shipping ports, in an effort to be in a position to accommodate industry changes and to be able to handle the new gigantic container vessels that are now sailing the world’s oceans.
The shipping industry has taken full advantage of the new technologies now available in the world and has been applying it to their systems in order to make them more effective. To date, these new applications have proven to be immensely successful in saving both time and money, for many members of the maritime shipping industry. From the super-ships to the super-ports, the whole industry has been going through a make-over. There seems to be a serious rush on world ports to fix up their facilities or they may run the risk of not being able to effectively compete in the global economy, when it begins to flourish and spread even more prosperity around the world.
The global economy is rapidly growing and will be more inclusive and prosperous than ever before. Investors can be certain that the emerging markets of the East and Africa, will ensure that the world’s economy continues to grow and that shipping industry leaders will be there to deliver the goods when needed, as they have always done in the past. The world’s economy is changing and along with it, the size and shape of the shipping industry itself.