ABSTRACT
The Asian perspective on the maritime industry has a distinct influence on industrial strategy and organization. Business associations and societies were established in Europe much earlier than in any other regions of the world. The Navigations Acts of 1660 and 1663 established a virtual monopoly and mercantilist basis of trade until 1849, the repeal of the act. The Navigation Acts significantly improved the maritime cluster around London. Academic societies in the shipping business and maritime logistics research appeared by the mid-1900s. The Chinese Maritime Institute was also established in 1962. Shipping business is always thought to be an essential focal area for national development and economic growth in Asia. In the history of maritime economics, there is a strong domination of the neo-classical school, particularly in shipping market research. The shipping industry means owning ships, operating ships, financing ships, building ships, supplying ships and many other facets of industrial economics.
