Introduction

Since this book was first written, over 40 years ago, the pattern and importance of shipping have changed drastically – probably more so in the past decade than in any era during the past hundred years. This is demonstrated by the fact that throughout this period of 40 years, 1965-2005, world seaborne trade has increased by over 450% from 6,000 to 28,000 billion ton miles (p. 3). The change has been fast moving and driven by many factors. Today we live in a global environment in which shipping and trade are inextricably linked as never before. The shipper is driving the shipping industry and the response is to focus continuously on ship productivity with a strong interface integrated with other transport modes: overland/inland waterways/air. Hence it is a high profile international business and high-tech in its management and operations. Moreover in recent years the trade growth has shifted to the Asian countries and this has been followed by the ownership of world tonnage. Today Asian countries are significant players in many sectors of maritime transport. They account for about half of the crews, two-thirds of global port operators, 83% of container ship building, and 99% of demolition/recycling. Twenty-eight of the world’s 50 largest liner companies are based in Asia. Over 70% of the top twenty container seaports are based in the Asian region (p. 386). Today shipping has become more competitive than ever and more complex. Over 99% of world trade in volume terms is conveyed by sea and the need to have an understanding of all the elements in the conduct/ mechanism of the maritime industry is paramount. Hence the eighth edition seeks to fulfil this objective.