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Crisis and Changes: Topics in Late Twentieth-Century Shipping History

In the final decades of the twentieth century the conditions and structure of the shipping industry changed dramatically, and in many respects 1973 represents a watershed in postwar maritime history. This essay examines two important features of the development. First, it analyses the crisis which plagued most parts of the shipping sector for more than a decade after 1973. Second, it discusses the accompanying changes in the distribution of the world fleet. The changes wrought by the two processes are fundamental to an understanding of the development of the late twentieth-century shipping industry.