Essays on The Shipping as Global and International Trade Term Paper

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The paper entitled 'The Shipping as Global and International Trade' is a perfect example of a business term paper. The shipping industry is on the growth path due to the globalization of the world. Today, the international shipping industry has carried 90% of world trade, making it play an important role. Moreover, the shipping industry helps in importing and exporting goods that contribute to the continuation of international trade and partnerships. Many nations rely on the shipping industry to move goods from one area to another because of the convenience, low cost, and fixed routes.

Moreover, the expansion of seaborne continues to benefit consumers worldwide because it leads to competitive freight costs (International Chamber of Shipping 2015). The increased economic liberalization of many countries and regional organizations such as WTO has also facilitated the shipping industry's growth as a preferred mode of transport. Through this, the industry is set for further growth and expansion, as it will attract many players. This is because of the global campaign against piracy, making alliances, the growing economy of many nations, and efficient vessels. There are over 50,000 merchant ships involved in the international transportation of any cargo and registered in over 150 countries around the world (International Chamber of Shipping 2015).

Over one million seafarers are operating the ships in every nation (International Chamber of Shipping 2015). Despite all these achievements and emerging trends, the shipping industry is faced with challenges such as piracy and armed robbery along the deep-sea. The industry bears the high economic cost related to insurance, re-routing, ransom, and deterring security equipment. This is a world problem, and it is a far-reaching effect in every corner of the world.

Hence, a change or implementation of different policies will influence and correct the problem and steer the industry. The paper will discuss shipping as global and international trade, the economic cost of piracy, shipping trade forecast, among other issues.

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