Why Shipbuilding Companies Are Key to the Growth of Maritime Transport
The international maritime shipping business is the backbone of global commerce, transporting more than 80% of world goods in terms of volume, based on data from the United Nations Conference on Trade and Development (UNCTAD). At the heart of this enormous network are shipbuilding companies , which are essential to the expansion of maritime shipping as well as the general efficacy and sustainability of global trade. Without the knowledge and ingenuity of shipbuilders, marine logistics would be severely restricted, impeding the flow of cargo and affecting economies globally. 1. Spurring Fleet Growth and Upgrading ship manufacturing companies in UAE have pioneered fleet development, responding to the increasing demand for bigger, speedier, and more fuel-efficient ships. Shipbuilding innovations directly underpinned this growth in the world fleet, which gained about 2.1% per annum in the last decade, as per Clarkson Research. Contemporary ships now incorporate advanced propulsion, g...