Until 1980, the world merchant fleet expanded rapidly in response to thriving seatrade markets. Since then, it has not grown much. The industry did not adjust effectively to periodic global recession...
India was a rather marginal participant in world trade during the early years after independence. Since 1980, however, the structure and orientation of Indian export trades have undergone fundamental changes...
International seatrade has fluctuated greatly because of expansions and contractions in the global economy. Developments in commodity markets have been equally unsteady, presenting serious and often intractable...