Annual General Assembly 2006 - Dalian

Project Session 1

Maritime Business: An Analysis Of Market Developments And Trends

Shashi N. Kumar

ABSTRACT

Abstract According to contemporary market analysts and experts, maritime business is dying and it lacks the luster of the high flying business sectors such as information technology or biotech. Shipowners based in most developed nations have been gradually reducing their shipping investment and pursuing other more lucrative ventures. However, market developments during the recent few years appear to have raised the profile of the shipping sector once again, and skeptics are left pondering whether or not there has been a paradigm shift in the industry's financial fortunes. The paper provides a summary of recent market developments globally as well as in the U.S., the world's largest single-nation consumer market. It also analyzes the current market conditions and provides an outlook for the future.

Keywords: maritime business; market trends; market analysis; shipping markets; shipbuilding; global issues in shipping

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