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Ports & Shipping

With expansion of seaborne trade port development assumes importance as a blue economy sector. World container throughput has increased over the past few years. Demand for large vessels and increasing use of dry bulk cargo puts emphasis on concerted efforts towards capacity expansion and modernization of ports. In a regional context, ports are treated as shared infrastructure which would lower transaction costs and facilitate smoother flows of goods in the region. Further, there are many countries such as Hong Kong, the United Arab Emirates, Tanzania, etc whose port facilities are primarily meant for transit facilities and services to other countries trading through those routes. In the blue economy framework, countries may tend to develop their own ports and focus on long-distance shipping thereby affecting the services of the transit ports. However, a protagonist view favours capacity expansion in the sense that more ports may intensify seaborne trade and services across the region with insignificant effects on the businesses of the transit ports. Ports would become the nerves for numerous blue economy activities and services in shipping and ancillary sectors. Besides ports, shipping in general may get renewed focus in the region due to blue economy orientation. Investment opportunities in ship building may grow as the demand for new varieties of ships catering to traditional shipping, ferry, small cruise and other forms of marine tourism is likely to grow in the future.