Eromosele Abiodun writes that despite complaints of lack of access to finance and insecurity as the bane of the shipping industry, many Nigerian ship owners lack the experience to go into the business
According to a report by the United Nations Conference on Trade and Development (UNCTAD), developing economies in 2019 accounted for the largest share of global seaborne trade, both in terms of exports and imports.
The UNCTAD noted that they loaded 58 per cent and unloaded 65 per cent of the world total. With a volume of 4.3 billion tons loaded and 6.1 billion tons unloaded, Asian and Oceanian developing economies contributed most to that share.