Here is a representation of the role of commercial shipping in global trade, supported by key figures:
1. Percentage of Global Trade Transported by Sea
• Approximately 80-90% of world trade by volume is carried by sea. This includes all types of cargo: bulk goods (e.g., coal, oil, grains), containerized cargo (manufactured goods), and specialized cargo (e.g., vehicles, chemicals).
• About 70% of global trade by value also depends on shipping, though the percentage varies by region and type of goods (with higher-value items often transported by air).
2. Global Container Shipping Market
• Containerized shipping is a critical segment of commercial shipping. As of 2024, around 150 million TEUs (Twenty-foot Equivalent Units) are transported annually. A TEU is the standard measure of shipping container capacity.
• The top 5 container ports handle about 30-40% of global container traffic. These ports include Shanghai, Singapore, Ningbo, Shenzhen, and Hong Kong, which together account for a significant portion of the world’s containerized trade.
3. Bulk Carrier and Tanker Shipping
• Bulk carriers (carrying goods like coal, iron ore, grains) account for about 35% of global maritime trade by tonnage.
• Tankers (carrying oil, LNG, chemicals) are crucial for global energy supply. The oil tanker market, in particular, handles around 60% of the world’s seaborne oil trade. For instance, in 2020, around 2.6 billion tonnes of oil were transported by sea.
• Dry bulk shipping (iron ore, coal, grains) also forms a significant part of global shipping. Around 2.4 billion tons of bulk cargo were transported globally in 2020.
4. Shipping Fleets and Vessels
• The global merchant fleet consists of approximately 50,000 ships (excluding fishing and naval vessels). This includes large container ships, bulk carriers, tankers, and general cargo ships.
• The world’s fleet of container ships alone accounts for about 30-35% of global shipping tonnage.
5. Economic Value of Commercial Shipping
• The shipping industry’s direct contribution to global GDP is estimated to be over $500 billion annually.