As a transportation method that carries an estimated 90 percent of the world’s trade by volume, the shipping sector provides a reliable barometer to the health of the global trade and economy. Likewise, the sector is heavily influenced by the drumbeats of world trade. Given that the global economy continues to be in rough waters and is expected to register slower growth this year, it is not a stretch to take a pessimistic view of the shipping sector in 2012.

Cargo theft does not just involve stealing at trade gateways such as ports and airports, and hijacking of trucks carrying containers and various products in transit. Cargo can also be lost to theft onboard ships; siphoning of liquid cargos such as petrol and palm oil; financial and documentation fraud; and robbery of warehouses. Moreover, it is not the work of small-time opportunists.

The need to address the issue of climate change has become a matter of priority, and players in the shipping industry must stand up and be counted to play their part to reduce carbon emissions.

Pollutants from ships, which include greenhouse gases (GHG), ballast water containing invasive alien species, paint from the hull coating, oil, chemicals, garbage, sewage and noise, can pollute the seas and the atmosphere.

The maritime sector, a key generator of global trade and economic activities, is undergoing structural changes influenced by many trends, factors and developments. They include political, economic, social, technological, financial, environmental and legal forces that have transformed and will continue to influence the landscape of the sector in many ways.