Maritime Industry Basics

Maximize shipping profits or reduce costs with a thorough review of maritime basics
By Kelley Keith As the markets of the world become increasingly interconnected, the maritime industry will play a larger role in transport of goods. The maritime industry basics include regulatory bodies, security and commerce associations and the technological advances available to companies that ship these products. Whether your company wants to enter the industry or use it services, a basic overview can provide a macroeconomic perspective of the opportunities and challenges contained therein.

The basic maritime industry trends are moving towards consolidation and the implementation of better technology. One of the main challenges for this industry is the security of shipping within certain parts of the world. When impoverished coastal countries struggle economically, it can spur piracy within the maritime industries. Add in the fact that global regulations are a work in progress and you can have some industry instability. Therefore, before you enter the industry, you need to review the following basic aspects of maritime shipping:

1. Evaluate the basic security, economic and legal issues in the maritime industry.

2. Contact the bodies that govern the industry for a basic shipping industry analysis.

3. Review basic maritime industry trends in technology.

Examine all aspects of ocean transport regulations and commerce

Before you enter into a shipping contract or start a shipping business, it's important to have information about the maritime industry in regards to the current laws, security issues and commerce opportunities. All of these issues are fundamentally important to any company that uses maritime commerce shipping companies. If your company can evaluate the current status of each, it'll go a long way to understanding maritime industry basics.
Try:  Have your legal advisor review the existing Admiralty and Maritime Law Guide as it relates to your company. Contact the Maritime Security Council for the present shipping safety conditions. Speak to a representative at the Chamber of Marine Commerce for the basics on economic conditions within the industry.

Give the international maritime business industry regulators a call

You really can't get more basic than learning the shipping regulations within the industry. There are two main authorities that govern the commerce in the United States--customs and port authorities. Between these two organizations, you should be able to get a clear understanding of any basic regulatory requirements of the shipping industry.
Try:  Make contact with the U.S. Customs and Border Protection (CBP) within the Department of Homeland Security and the American Association of Port Authorities. Be sure that you know these bodies' prime objective is to keep ports safe. Commerce is important, but it's secondary to border safety, so keep this in mind when viewing their regulations.

Review the latest maritime industry software advances

As with most industries, technology is reshaping the way in which players do business. In fact, technology isn't a luxury, but a necessity when it comes to maritime industry basics. To get a proper overview of the basics within this industry, reviewing the technology available is paramount.
Try:  Speak to ABS Nautical Systems for basic software trends in the maritime industry, such as programs offering fleet management solutions. Transas Group not only offers fleet management systems, but also electronic cartography, coastal surveillance and training simulators, among other things, in its various software for the maritime industry.

• Be sure to ask for reference information about the maritime shipping company prior to entering into any contract. While a company may seem reputable, you're entrusting this company with the safety of your products during shipping.