Growth of the shipping industry
The shipping industry has experienced significant growth over the past few decades, driven by the increasing demand for goods and services around the world. The industry plays a critical role in global trade, providing a cost-effective and efficient means of transporting goods across long distances. But why has the shipping industry grown so much? What contributed to this? First of all, the growth of the shipping industry can be explained by globalization and the increase in international trade. Various companies began to expand their operations to other countries, which means that the need for transport services has grown. Of course this led to a surge in demand for shipping services. Also, the development in the field of technology has greatly influenced the growth of the shipping industry. New technologies have enabled the industry to become more efficient, faster and reduce transportation costs. It is also no secret that over the…