Why is there a demand for maritime transport What is a maritime Essay

Why is there a demand for maritime transport What is a maritime transport system and who are the actors in maritime transport business - Essay Example All business documents and transactions recorded require a carefully done analysis and accounting for appropriate recognition. This is especially so since the business can be affected by the global recession of yester years. A documented life history of the maritime business transaction needs to be evaluated. The design of the ship plays a critical role as part of an acquisition arrangement (Pallis, 2007). There are many objectives attained through sea trade. Issues of freight rates have to be determined in the maritime transport. The market return of this kind of transport must be determined. This ought to be achieved so that a critical cost benefit program can be instituted (Pallis, 2007). Sea mode of transport is common in many nations across the world. Bulk goods dominate this market. With the emergence of aviation, passengers are not common in the mode of transport. Its considerable advantage over the air is that it is a cheap mode of transport. It is used over the sea, canals, lakes and even across the river but it is slow compared to other modes hence it is not friendly to perishable goods (Force, 2006). The reliance on water has been directly unpractical for nations that are land locked. Being land locked means that the country connection to territorial waters is minimal. The European colonial powers were among the first nations to establish connections in the marine trade. This achievement dates back since 1450 AD with the opening up of the Atlantic, Pacific and the Indian Ocean that brought about the expansive sea trade. This brought about the element of voyages for discovery by that time. The trend has continued in a progressive way. This positive movement in the trend shows a realized economic gain because of this trade. A survey carried out in the year 2006 showed that 86% in terms of volume and 70.1% in terms of value of the global trade was water born. The capital outlay in the investment forms the greatest challenge with the maintenance cost