The contribution of shipping to the world economy is tremendous even though it is a “silent” industry, S Hajara, CMD of the country’s largest shipping company SCI said here today.
“It is a unique industry ...shipping is considered to be a silent industry, but the contribution it makes to the world at large is absolutely fantastic ...”
“Without shipping, half of the world would starve and the other half would freeze because it is shipping through which 90 per cent of international trade is carried out,” Hajara told a graduation ceremony of the Indian Maritime University here.
He said the centre of production and consumption had moved far apart and without shipping, connecting the two would not have been possible.
“So, food grains is carried by ships ... crude is imported and that is brought in by shipping ... unfortunately, if you ask anyone how is oil brought, one can only think of tanker lorries nobody thinks shipping because it is not considered part of your day-to-day activities.”
“...but for shipping the entire Indian economy would collapse in a matter of a day because there would be no crude to produce petrol and diesel,” Hajara said.
He said one aspect of shipping that was still not acknowledged was that although world over prices increased, “shipping contributed to the world economy, and reduced freighter charges in absolute terms.”
Also, in terms of carbon footprints, it emitted 15 per cent of less gas than road transport, 45 per cent of rail and less than one per cent than that of aviation, he said.
About 166 cadets received their graduation degrees in marine engineering this year from the Institute. The degrees would be awarded by Jadavpur University.
Campus Director MK Ghosh said that this would be the last batch to receive their degrees from Jadavpur, as from the next year it would be awarded by the Indian Maritime University, Chennai.