An Overview of Indian Shipping and Cargo Industry

The Indian peninsula is blessed with the coastline that extends up to 7,500 km on the three sides. This provides ample opportunity to the Indian shipping industry and shipping companies to contribute towards trading opportunities. Right from the ancient times, the Indian coastline has been the destination for foreign traders hailing from different countries of the world.

There are numerous ports that have been established in different states sharing the Indian coastline. There are more than 900 ships of different kinds that are operated by the Indian shipping industry. Many of them are utilized for the purpose of international trade.

India has a thriving economy and it is well-supported by it cargo shipping industry. The Indian goods in different categories have earned great recognition in the global marketplace. This has consequently helped the Indian shipping industry to grow as well. It is indeed impressive to know that 90 percent of the trade from country is done with the help of ships.

Wet cargo is one of the most demanded trade entity from the Indian coastline. Due to availability of crude oil in abundance, the wet cargo ships from India enjoy the opportunities to participate in growing export from the country. Dry cargos as well as finished goods too are advancing towards high levels of success.

There are some challenges that the Indian shipping industry needs to overcome to make its way towards the targeted goals. For instance, the shipping companies need to collaborate with their foreign counterparts to ensure all round development. Going further, the shipping companies in the country needs to explore the trade of goods like liquefied natural gas to earn more profit.

As per the reports, the number of vessels at the Indian coastline grew up to 912, with shipping tonnage crossing the mark of 9.3 million tons. This helps the country to have a count among top 20 nations with largest fleet size. Also, the country tops the list of developing nations as far as shipping cargo industry is concerned. All these statistics indicate that the Indian shipping industry is on the right track to achieve a good status globally.