The shipping industry is responsible for transporting 90% of the world's trade. The safety record of shipping is the envy of shore-based transport sectors and is by far the most environmentally friendly form of transport. The 40,000 ships that comprise the international trading fleet are technically sophisticated, high value assets and the operation of merchant ships generates an estimated annual income of over US $200 billion in freight rates within the global economy.
The shipping industry is a truly global community. It is intrinsically international; indeed it was the very first global industry. Because of the international nature of shipping it is regulated by United Nations agencies and the International Maritime Organization in particular. Modern shipping involves companies from every nation on the planet and virtually every nationality is represented in the seafaring population and the industry's shore-based workforce.
Merchant ships include:
Container ships
which carry most of the world's manufactured goods and products
Dry bulk carriers
which transport raw materials such as iron ore and coal
Tankers
transporting crude oil, chemicals, and petroleum products
Cruise ships
and international passenger ferries
Specialist ships
e.g. heavy lift vessels and support vessels for the offshore oil industry