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Intended as a basic text on ocean shipping, this book provides a basis for understanding how the industry functions and the problems and issues that arise because of its international character. Dr. Abrahamsson makes no attempt to judge the relative merits of various developments, arguments, or positions; rather, he explains concepts and principles
The world's ocean transport industry faces an unprecedented crisis. Fundamental changes in the seatrade markets and considerable discrepancies between tonnage supply and the demand for transport are the key reasons. The international fleet has become critically overaged and suffers from a deteriorating safety record. Serious retrenching and sharp long- term planning are needed but -- tampered by reduced freight earnings, rising insurance costs, and a shortage of investment capital.