ABSTRACT
Maritime transport is the main way of delivering cargo in international trade. In Australia, for instance, approximately 99 per cent of import volumes and 96 per cent of export volumes were transported by sea in the 1995–96 period (PC 1998c). Although the growth rate of air cargo transport is much faster, maritime transport is also expanding, with annual cargo shipped increasing for the thirteenth consecutive year to reach 5.06 billion tonnes in 1998 (Table 9.1). World economic growth relies heavily on international trade; therefore efficient and competitive shipping services are vital for a productive world economy. As discussed in Chapters 9 and 10 of this book, the maritime transport industry is subject to various forms of restrictive policies or practices that constitute significant impediments to trade. Such impediments to trade hinder competition and inflate the costs of shipping services and can therefore have a significant impact on the world economy.
