The cargo shipping market is estimated to augment at a modest growth rate during the forecast period. Cargo shipping is the process of transporting commodities, goods, and cargo by the water route. The cargo shipping can be domestic or international however most of the cargo ships are operating at the international routes. Cargo ships are preferred over air and land routes due to very low cost and ability to transport goods in bulk. As per the United Nations, around 80% of the international global trade is done through cargo ships each year.
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