Shares Investment9 months ago
Although technological advancement has affected many businesses over the past decade leading to the rise and fall of many companies, the business of moving large amounts of goods from one location to another has remained relatively unchanged. Despite the availability of air freight, over 90 percent of world trade continues to be carried by sea due to the lower freight costs. While the shipping industry is a resilient one, it is in itself a highly competitive industry. With over 50,000 merchant ships trading internationally, shipping companies are often embroiled in price wars and they fight for a greater market share.