The first lecture on Monday, Oct 03 2011 was on one of the basic issues of shipping. Why to operate ships? It was delivered by Mr. D A Sukumar.
The reasons are many, but they can be broadly put in 3 main groups.
Foreign exchange is one of most potent weapons in modern day scenario. If we do not have our own ships, we have to hire ships for our needs. Hiring a ship is not chump change, the charges are phenomenal in some cases; the more specialised cargo we have, the more are the hire charges. Since all transactions take place in US Dollars, it is quite a drain on the available resources. The hire charges for bulk carriers with 100,000 to 200,000 DWT are heavy. Chine is believed to be coming up with more than 500,000 DWT container carrier in the near future. Such large ships would carry a very high hiring charges. The situation is entirely different if we have our own ships. Not only we would save on paying foreign exchange, it would also be able to earn in case it has spare capacity to rent out. Supposing you could lay your hands on such consignment, waiting to be shipped to various countries in Europe, you can imagine the revenue that can be generated.
Trade & Prestige
Being your own boss sure does let you cash in on income generatig opportunities. And yes, it is big business. Being a leader in any trade provides a dominant position. Countries like the US, UK, Australia etc dominate the world trade.
Strategic Needs
Having a large fleet of ships, be it dry bulk carriers, general carriers, tankers, reefer ships, passenger ships etc can help in fulfilling strategic needs. In case of hostilities, natural calamities, the resources can be utilized for saving or retrieving life and equipment in a speedy way.
The reasons are many, but they can be broadly put in 3 main groups.
- Foreign exchange
- Trade & prestige
- Strategic needs
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| Hyundai i10 Cars waiting to be shipped to Europe |
Trade & Prestige
Being your own boss sure does let you cash in on income generatig opportunities. And yes, it is big business. Being a leader in any trade provides a dominant position. Countries like the US, UK, Australia etc dominate the world trade.
Strategic Needs
Having a large fleet of ships, be it dry bulk carriers, general carriers, tankers, reefer ships, passenger ships etc can help in fulfilling strategic needs. In case of hostilities, natural calamities, the resources can be utilized for saving or retrieving life and equipment in a speedy way.
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