Overview
Maritime trade is the shipment of cargo by sea and waterways for commercial purposes. It drives globalisation and is a key factor in helping to improve standards of living worldwide.
From the ancient Greeks and Egyptians to the Polynesians, it’s one of the oldest forms of international business.
Established over 5,000 years ago, some of the first major maritime trade routes are still being used today. Currently, over 90% of the world’s cargo is transported by sea.
The Main Maritime Nations
• Directly and indirectly, almost every country is part of maritime trade and its supply chains.
However, certain nations dominate the industry. If you look at total fleet value, the top ten ship-owning countries, according to VesselsValue in 2020, were:
• These countries initially rose to maritime dominance because of historical and geographical reasons.
Their sustained success, however, is due to a range of other factors. In Michael E. Porter's “Competitive Advantages of Nations”, the author proposes additional elements such as:
Although landlocked nations are not as likely to be major contributors to the maritime economy, they can still be a crucial part of the wider supply chains of international trade. Afghanistan, for example, does not have a merchant fleet but still imports goods where the maritime industry has played a key role in its supply chain.
• The main maritime nations have a tremendous role in supporting the economies and the wellbeing of the entire world.
What Goods Are Shipped Most Often?
The bulk of goods shipped fall into the following sectors:
• These products make up the primary materials essential to most global supply chains.
