An article in Yahoo Finance takes a look at the 25 largest ports in the world. To skip the detailed analysis, go directly to see the 5 largest ports in the world.
Importance of ports
Without ports, much of the world’s economy would come to a standstill. They are an integral part of international trade, acting as a gateway between various countries while also providing both infrastructure and services required to transport goods and raw materials. Shipping has been the primary source of transportation of goods for several centuries and even though the advent of air transportation has led to a much quicker option, shipping allows for the transfer of a much higher volume of goods while being much more cost effective as well. Ports possess the facilities for ships to dock and load and unload cargo, known as cargo handling, one of the most important aspects of global trade. Today, even after airlines have been in existence for over a century and efficiency is ever improving, 90% of all trade is still seaborne.
Nowadays, ports aren’t just about cargo handling, but logistics as well, which is incredibly important to the biggest logistics and shipping companies in the world, Currently, there are 91 countries with seaports, while the 25 biggest ports in the world are just located in 16 nations. For these countries, a significant portion of their economy, either directly or indirectly, is linked to their ports, which also creates employment. Despite this, whether investments in ports and their contribution to the economy is often questioned by investors, politicians and the general public.
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Source: Yahoo Finance
