The shipping industry is not only made up of sophisticated and large luxurious ships but it also has rusty, old ships that have transported goods stored in shipping crates destined for numerous locations all over the world. Yet, many people who benefit from this old and energy-efficient transportation mode are not too familiar with it and how significant it is towards maintaining international relations between countries.
For instance, despite many advances that have propelled technology to new and undiscovered heights, more than ninety percent of the world’s exports and imports are still delivered using shipping. Not only is shipping the most archaic method of transportation but its continued use and reliability maintain that it is by far one of the most important industries.
Some Interesting Facts About Shipping
If you have a keen interest in this industry and you want to work in it or to venture into the ocean freight business then have a look at the following interesting facts about this industry.
- It Is Highly Profitable
Although it may be a difficult industry to enter because it is massive, it is one of the most profitable industries that are responsible for the increased revenue of a country’s economy.
- Challenging Communication System
The majority of ship crews do not have access to adequate communication facilities and only about 10% have limited access to the internet.
- Quick Transport Permits
You need transportation permits to initiate the transit of goods. It is highly advisable to hire a professional who is an expert in the field and can help you with your DOT/ FMCSA compliance, fuel taxes, freight planning, insurance, and getting all the trip permits you to need. You can find more information here.
- It Is Affordable
It is by far the cheapest mode of transportation. It may take longer due to unexpected delays with customs officers if there are inspection issues but your goods will be delivered in good condition.
- It Is Safe
As the first transportation industry to implement international safety standards, it remains the safest form of transportation that is used for commercial purposes. It is regulated by two international statutory bodies, the International Labour Organisation and the International Maritime Organisation.
- The Bigger The Ship, The More Powerful
Larger ships have engines that are approximately 1000 times more powerful than the engine of a conventional family car. They also do not use as much fuel which means that they are powerful but are environmentally conscious.
- Japan, Greece, and Germany
These countries own the biggest fleets in the world. AP Moller Maersk located in Denmark is reportedly the largest shipping company in the world.
- Building Costs Are High
Ever wondered how much a single ship costs to manufacture? It is estimated that the largest ships cost over $200 million to build, making them the most expensive freight assets.
- Sail Away
The Philippines is the number one producer of seafarers. Globally it is estimated that there are around 1.5 million sea crew members.
- Pirates Exist
When travelling to places like the coast of Somalia, seafarers need to be cognizant of possible hijackings, kidnappings, and other violent crimes that pirates perpetuate.
The shipping industry is old so it makes it easy for those that are members to be secretive about aspects of it. If you are an outsider then it may be an arduous task to fit in. It is a cost-effective solution for exorbitant courier costs and unpredictable delivery service issues that occur when you use cars or air cargo to deliver goods.