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Future Plans for Shipping Industry Report

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Updated: Mar 7th, 2022

Introduction

Industrialization as well as introduction of science and technology has in the recent years seen adverse changes in the way different modes of transport operate. Water transport is one such mode which has been greatly improved in the course of time (Hornell, p. 391).

Shipping industry is that industry which is dedicated to the responsibility of moving both goods/services as well as human beings along waterways (Hansen & Guiliano, p. 52).

Report

The shipping mode of transport can be dated as far back as the 14th century where it began with the merchants of Phoenix (Tracy, p. 58). With technological advancement in the shipping industry, shipping practices were furthered by introduction of iron in the construction of ships as well as use of steam for propulsion (Hansen and Guiliano, p. 54). By the turn of the 20th century, steam turbines adapted to maritime uses, introduction of diesel engines as well as motor ships were in play.

Future plans have been formulated and suggestions have been made on how to improve the industry in the future. With the shipping industry having various and greater opportunities of growth as well as expansion, how they utilize the resources they possess depends entirely on the shipping companies (Hanson and Guiliano, p. 50).

Many shipping industries struggle raising enough money to cater for their expenses at low rates. In future, governments are considering setting up financial institutions that will offer soft loans to such industries at low interest rates (Holmes and Davey, p. 477). This will in turn make it possible for those considering venturing in the industry in future feel secure enough to do so.

Due to the high rate of expansion by the shipping industries, job opportunities will be created and will be available in future. Companies are also considering hiring women workforce since this will increase manpower and make shipping industries’ services more reliable and efficient (Hornell, p. 402). Modernization in most parts of the world has made it possible for the traditional mentality of women merely being home-makers to be a thing of the past and has seen these women contribute greatly to a country’s economy (Ibid, p. 407). Those graduating from universities or colleges will also have an opportunity to enroll in shipping industries and get employment.

Governments are also considering initiating several measures in future for the shipping industry. These measures will include introduction of maritime training programs for future crew, officers as well as floating staff (Hanson & Guiliano, p. 53). Financial policies meant for soft loan grants will also be formulated to assist shipping industries.

Major ports frequently used by shipping industries for instance the port of Mombasa in Kenya and the port of Melbourne in Australia have considered working with others in promoting and marketing their respective ports in order to attract as well as retain competitive shipping services (Holmes & Davey, p. 476). Such ports will also ensure that there is availability of the proper infrastructure so as to increase trade in the coming years.

Governments dealing with shipping industries ought to try and consider introducing legislation for tonnage tax meant to lower fixed rates of tax charged on the vessels (Hanson & Guiliano, p. 58). This will enhance and increase more trade within continents hence improving many economies. With the quick development of global economic technology, international trade is growing rapidly and steadily due to knowledge and value in merchandise. Shipping companies will therefore be more alert on changes occurring in shipment structures in international trade and be able to adjust transportation structures on time (Holmes & Davey, p. 478).

The current development of the shipping industry has lead to increased and tough competition between shipping companies. Hence shippers should consider provision of express services as well as calling fewer ports to promote customer satisfaction (Hanson & Guiliano, p. 60). Some shipping companies are also considering building larger vessels with the ability to travel even faster, so as to hold more commodities and enhance efficiency of services provided in the future.

The advancement of modern technology and its adaptation by the shipping industry has brought with it environmental hazards for instance air and water pollution as is in the case of fuel spills (Hornell, p. 412). It has been observed that shipping emissions are amongst the largest single source of carbon dioxide gas that is manmade, after housing, agriculture and vehicles (Ibid, p. 421). This has raised concern by governments and caused them to consider certain measures to control it. Ship owners are currently being pressured to seek alternative and better fuels in future. They are also urged to take into account the size of the ship engine while constructing it, since the larger the engine the more fuel that will be required, thus resulting in higher emissions of the gas (Tracy, p. 61).

In future, shipping companies will also have to consider remodeling their fleet to suit the ever-changing needs of their respective countries’ growing international trades (Hanson and Guiliano, p. 57). Governments need to consider addressing threats to cargo support base in future, brought about by the current changing environment (Tracy, p. 72).

Conclusion

Despite facing many challenges, the shipping industry has come a long way in recent years. Better vessels have been and are still being built with the introduction and development of modern technology and this has seen improved economies as well as increased demand for various commodities around the world.

With the industry having found solutions of overcoming various obstacles, the shipping industry is bound to grow in the future leading to customer satisfaction and increased economic rates. The environment will also be protected as will the marine ecosystem.

Work Cited

  1. Hanson and Guiliano. The Geography of Urban Transportation. 3rd Edition. Pp. 49 – 60.
  2. Holmes, M., and Davey, L. Is there any legal certainty left for shipping lines and their agreements? JIML. 2003. Pp. 475 – 480.
  3. Hornell, J. Water Transport: Origins and Early Evolution. Cambridge: London. 1946. Pp. 390 – 450.
  4. Tracy, James D., ed. The Rise of Merchant Empires: Long Distance Trade in the Early Modern World, 1350 – 1750. Cambridge, U.K. and New York. 1990. Pp. 56 – 75.
  5. Unger, Richard W., ed. Ships and Shipping in the North Sea and Atlantic 1400 – 1800. Basingstoke: U.K. and Brookefield, Vt. 1997. Pp. 24 – 38.
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