Over 90% of world trade is carried by the international shipping industry. Without shipping the import and export of goods on the scale necessary for the modern world would not be possible.Seaborne trade continues to expand, bringing benefits for consumers across the world through low and decreasing freight costs. Shipping as a mode of transport and increased economic liberalisation, the prospects for the industry’s further growth continue to be strong.There are around 50,000 merchant ships trading internationally, transporting every kind of cargo. The world fleet is registered in over 150 nations, and manned by over a million seafarers of virtually every nationality.