International imbalance in shipping fleets

Although developing countries account for some 60% of world exports and generate some 40% of world trade, their share of the world fleet stands at 13%, representing an average annual rate of growth of 13.5% since 1971. Their share of world shipping is divided into 21.7% of world general cargo and 13.8% of containership, 11.6% of world dry bulk carriers and 9.7% of world tankers. The importance attached by developing countries to shipping is highlighted by the fact that the International Development Strategy for the Third United Nations Development Decade calls for structural change in the industry and for a 20% share of world shipping for developing countries by the year 1990.