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The shipping industry is among the most competitive of international businesses,
owing to its cyclical nature.
The world shipping fleet comprises tankers, dry bulk carriers, container
ships and specialised vessels. The tanker fleet accounts for 33.32% of the
total fleet, while dry bulk carriers constitute 31.83% of the total in terms
of mn. gross registered tonnes (grt) which is the volume of each vessels enclosed
area.
India has 55 shipping companies, of which 19 deal exclusively in coastal
trade, and 29 in overseas trade, while the remaining are in both.
In shipping tonnage, India ranks sixth in Asia and fifteenth in the world
merchant shipping trade.
At present, the Indian shipping industry comprises 510 ships, of which 240
are overseas fleet and 270 are coastal ships, including 70 offshore support
vessels, about 25 supply vessels for offshore services and 12 dredgers. There
were also 31 chartered vessels operating on bare-boat-charter-cum-demise.
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