Microeconomics of Maritime Shipping

1891 Words4 Pages
bulb-icon

Recommended: Maritime industry importance

Introduction
Much of our modern day information about the Maritime economy has been primarily based on the historical happenings in the global economy. As world become ever more globalized and interlinked, maritime shipping is experiencing challenges as well as enjoying greater business opportunities. Maritime shipping is mainly the primary means of transporting parts and the finished goods around the world. Because shipping is such an old industry, with a history of continuous change, sometimes gradual and occasionally catastrophe, Time and again we find that shipping and trade will slipway from the economy and then magical reappear in some new voyages no other industry has played such a central part in the economic voyages over thousands of years. The airline industry is shipping’s closest counterpart and it has barely 60 years of economic history. It plays a fundamental role in the economic development and trade of countries. In essence, economic development, trade and transport are mutually supportive. Ocean liner shipping is a regularly scheduled service on established ocean routes between countries or areas. Liners carry primarily manufactured goods that are relatively high in value. Although liners account for less than 53% of all freight, they amount for more than 93% of U.S. freight. (http://www.wto.org) A striking feature of the shipping business to outsiders is the different character of the companies in different parts of the industry. Liner companies and bulk shipping companies belong to the same industry, but they seem to have little else in common. There are several different groups of companies involved in the transport chain, some directly and others indirectly. The direct players are the cargo owners, often the p...

... middle of paper ...

...b/osterlin/docDetail.action?docID=10547175
2. Plank, Geoffrey. "Sailing with John Woolman: the millennium and maritime trade." Early American Studies 7.1 (2009): 46+. Academic OneFile. Web. 22 Mar. 2014
3. Economic Development Council Seattle and King, C. (11). Study Reveals $30 Billion Economic Impact of the Maritime Industry in Washington State. Business Wire (English
4. Rupert L. Marronage, Manumission and Maritime Trade in the Early Modern Caribbean. Slavery & Abolition [serial online]. September 2009;30(3):361-382. Available from: Academic Search Elite, Ipswich, MA. Accessed March 22, 2014
5. http://marinepedia.blogspot.com/2009/10/shipping-market-model.html
6. http://ramiwaheed.wordpress.com/2012/09/15/the-economic-role-of-the-shipping-industry/
7. Shipping and Logistics Management by Yuen Ha (Venus) Lun, Kee Hung Lai and Tai Chiu Edwin Cheng (Apr 7, 2010)
8.

Show More
Related

  • Summary Of Andrea Stuart's Sugar In The Blood?

    825 Words  | 2 Pages

    The aforementioned topics of establishment in the New World and treatment of slaves on plantations were recurring throughout the book. The book did a good job illustrating why Caribbean countries like Barbados were central in the triangular trade between England, the West Indies, and America commonly comes up in middle school history classes. One of the hard to believe aspects of the book is the idea that merchants seemed to stumble into their fortune and were only where they were due to the work done by the slaves from before sun rise to after sun

    Read More

  • DBQ

    675 Words  | 2 Pages

    Firstly, the Caribbean smuggling was viewed as necessary and positive in the late eighteenth century. According to William Taggart, a British sailor traveling to testify at his smuggling trial in April 1760, the illegal transportation of goods from the Spanish port of Monte Christi led to general prosperity in the area, as there were only 100 relatively poor families and that the governor had full knowledge of this and demanded a tax of one silver Spanish coin. Taggart mi...

    Read More

  • The Haitian Relationship With the Dominican Republic

    2875 Words  | 6 Pages

    The majority of the nearly 500,000 slaves on the island, at the end of the eighteenth century endured some of the worst slave conditions in the Caribbean. These people were seen as disposable economic inputs in a colony driven by greed. Thus, they receive...

    Read More

  • Carnival

    820 Words  | 2 Pages

    The industry started a major growth phase in the late 1960s and early 1970s achieving more than 2,100 percent growth. The early goal of the cruise industry was to develop a mass market since cruising was until then an activity for the elite. A way to achieve this was through economies of scale as larger ships were able to accommodate more customers as well as to create additional opportunities for onboard sources of revenue. The global growth rate of the cruise industry has been enduring and stable, at around 7% per year in spite of economic cycles of growth and recession. For instance, the financial crisis of 2008-2009 has not impacted the demand for cruises. This underlines that the industry has been so far fundamentally supply based; the ships are built and the customers are found to fill them through various marketing and discounting strategies.

    Read More

  • The Airline Industry After 9/11

    2026 Words  | 5 Pages

    The airline industry not only transports passengers across the country and world but it also moves cargo from location to location. The largest segment for the airlines is general commercial passengers and business travelers. In 2004, there were 15 major airlines with 12 of those being mainly passenger carriers, the remaining three being cargo carriers. In addition to the large airlines (Delta, United, American, Southwest, Northwest), there are numerous low-cost regional carriers that have tapped into the larger carriers’ customer base. These smaller companies generally fly from smaller airports and serve a smaller amount of destination cities. Calling them a no-frills air carrier would not be far from the truth. Their goal is to move customers f...

    Read More

  • The Extreme Cruelty of the Middle Passage

    1719 Words  | 4 Pages

    Rediker, Marcus. The Slave Ship A Human History. New York, New York: Penguin Group, 2007. Print.

    Read More

  • The Cruise Line Industry

    854 Words  | 2 Pages

    The Two forces currently affecting the cruise line industry are the economic and political forces. These two forces represent threats to the company and the industry because in 2009 the economy of the use was in a downturn and sales went down for that year. The global recession significantly impacted the financial performance of travel companies worldwide. Carnival suffered significant loss. Reduced travel demand as a consequence of the recessionary economy by 13%. As the consumer’s discretionary spending capacity declines, the demand for Carnival’s cruise services would also decline affecting the revenue growth as well.

    Read More

  • Case Study Of Meli Marine

    1020 Words  | 3 Pages

    Ocean shipping probably will meet with the pirates, which could lead to economic losses. Technology How to make the vessel keep efficiency by using less fuel, so company could cut the cost. Environment Wrecking on a rock, meeting with tsunami or rainstorm and so on when sailing. o Five – Forces • Threat of new entrants Low, because of high capital demand. Power of suppliers High, because of the vessels manufacturing, fuel price, and labor cost because these factors are all have no substitutes.

    Read More

  • The Slave Revolution in the Caribbean

    1515 Words  | 4 Pages

    Laurent Dubois and John D. Garrigus. "Slave Revolution in the Caribbean 1789-1804: A Brief History of Documents.” Bedford/St. Martin’s, 2006.

    Read More

  • Supply Chain Analysis: Frito-Lay

    1528 Words  | 4 Pages

    Zanjirani F., Rezapour, S. & Kardar, L. (2011) Logistics operations and management concepts and models, 1st ed. London ; Elsevier.

    Read More

  • Climate Change

    1054 Words  | 3 Pages

    As sea ice begins to melt, opportunity in sea transportation strikes as an interesting topic for the Canadian economy. Wintertime shipping has proven to be difficult in the Canadian arctic, due to heavier and thicker ice (Fergal & Prowse, 2007). Summertime has always been a preferable season for sea transportation partially due to the softened ice, and the amount of daylight produced, compared to wintertime darkness (Ferg...

    Read More

  • Expansion of the Caribbean

    1089 Words  | 3 Pages

    Grouchier, C & Walton, L. 2013. The maritime world: The Atlantic, Pacific and Indian Ocean World. Vol 2. London & New York.

    Read More

  • Operations Management: McDonald's Competitive Advantage

    3031 Words  | 7 Pages

    Coyle, J., Langley, C., Gibson, B., Novack, R. and Bardi, E. (2008).Supply Chain Management: A Logistics Perspective. 8th ed. Cengage Learning, p.366.

    Read More

  • Slavery In The Caribbean Essay

    1543 Words  | 4 Pages

    The Caribbean is often overlooked when the concept of slavery is discussed. However, the Caribbean islands played an integral part in the building of various countries’ economies around the world; primarily European countries. Many of the social stigmas that are associated with slavery are still present in various Caribbean countries’ societies today. Caribbean cultures have very strong African roots as of the numerous traditions carried from Africa by the slaves. This paper will give an overall view of slavery in the Caribbean and go more in depth into the economic, social, and cultural affects that it had and is still giving in the Caribbean using Haiti as a focal point.

    Read More

  • Containerization Essay

    874 Words  | 2 Pages

    The authors try to emphasize the importance of new growth dynamics for containerization not just for being a transport unit but also as a supply or commodity chain unit as well. The group of authors also briefly explain that Containerized freight is commonly characterized by the movement of manufactured goods and parts from manufacturing facilities to retail activities with the whole range of distribution activities in between, such as terminals and distribution centers. The way containerized freight is used is a benefit in multiple ways from the space flexibility to movement of goods shown in terms of distribution efficiency. Containerization dynamics has for some time relied on a variety of factors that are noted as being derived volume linked with globalization, the substitution of break-bulk traffic into

    Read More

More about Microeconomics of Maritime Shipping

Open Document