Roles of Maritime Trade

The different roles involved in Maritime shipping are:

• Shippers: These are the enterprises that initialize the trade. Transportation of commodities is carried out from one nation to another according to these organizations. They are responsible for trading the cargo and are in charge of the shipment.
• Carriers: The ships and individuals involved in the shipment of goods are referred to as carriers. All the onboard personnel who assist with the shipment and the machinery used in the process falls under carriers. These are the frontline workers whose duty is to complete the task assigned to them during the shipment. 
• Sourcing Agents: The agents that provide appropriate carriers to shippers are the sourcing agents. These agents are associated with the proper functioning and maintenance of trade practices. 
• Freight Forwarders: The individuals or company who looks through the documentation and formalities. All the paperwork is done by these agencies and further, coordinate the movement.
• Government Bodies: These are the official authority that monitors shipping and ensure that all the national laws are followed. Prevention of any irregular activities and dealing with criminal offenses are the prime duties of government bodies.

Related Links

1. International Trade
2. Introduction to Internal Trade

Maritime Trade is an exchange of goods and commodities through seaways between two countries. Humans are utilizing the waterways around the globe for many centuries as a crucial way of trade and transport. Modern time’s maritime trade operates through advanced, durable, and bigger ships. Trading has become more efficient recently which allows large quantities to trade between nations. As compared to other trading options it is a more cost-effective and convenient way to transport manufactured goods from one country to another.

It is an essential factor in the growth and development of the world’s economy. It is best suited for the shipment of heavy goods overseas and occurs in both small water bodies and international waters. All the trades occurring through any water body are referred to as Maritime trade. Maritime trade covers around 80% of the world economy. Due to its crucial role in commerce, maritime trade is the center of smuggling, terrorism, trafficking, and piracy.