Shipping is a global industry. Because it is the only cost-effective way to carry large volumes of essential commodities and finished goods, shipping is fundamental to international trade and its prospects are closely linked to economic activity around the world.
The shipping industry features 4 main sectors: containerships, tankers, drybulk vessels and gas carriers.
| World Seaborne Trade (million tonnes) | ||||
| 2008 | 2009 | 2010 | 2011(e) | |
| Container | 1,249 | 1,127 | 1,275 | 1,385 |
| Drybulk | 3,074 | 3,028 | 3,387 | 3,562 |
| Petroleum | 2,698 | 2,564 | 2,670 | 2,677 |
| LPG | 42 | 38 | 39 | 40 |
| LNG | 173 | 183 | 222 | 246 |
| Other | 1,002 | 899 | 998 | 1,037 |
| Total | 8,238 | 7,839 | 8,591 | 8,947 |
Container trade plays a critical role in the global seaborne movement of goods. Volume has grown rapidly over the last twenty years, as a result of globalization which has boosted international trade in finished and semi-finished goods, as well as just-in-time delivery practices implemented by manufacturing.
With a large containership fleet, Danaos Corporation is well established in the shipping industry. Indeed, since the 1980s, strategy has consistently focused on this sector where the company enjoys a significant competitive advantage.
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