A shipping line or shipping company is a company whose line of business is ownership and operation of ships .
73-600: Muhammadi Steamship Company Limited was a Pakistani shipping company which was headquartered on Muhammad House in Karachi. It was one of the oldest locally owned shipping companies in Pakistan until it was nationalised in 1974. Muhammadi Steamship Company Limited was incorporated on 12 May 1947. It was a large-scale joint venture among business families of Pakistan, including Habib, Cowasjee, Dada, Arag, and Adam, which held ownership until 1963 when Valika family acquired
146-409: A computer without regard to location. This included accounting, software development, and engineering design. Student exchange programs became popular after World War II , and are intended to increase the participants' understanding and tolerance of other cultures, as well as improving their language skills and broadening their social horizons. Between 1963 and 2006 the number of students studying in
219-402: A continuum with the local, national and regional. At one end of the continuum lie social and economic relations and networks which are organized on a local and/or national basis; at the other end lie social and economic relations and networks which crystallize on the wider scale of regional and global interactions. Globalization can refer to those spatial-temporal processes of change which underpin
292-468: A foreign country increased 9 times. Since the 1980s, modern globalization has spread rapidly through the expansion of capitalism and neoliberal ideologies. The implementation of neoliberal policies has allowed for the privatization of public industry, deregulation of laws or policies that interfered with the free flow of the market, as well as cut-backs to governmental social services. These neoliberal policies were introduced to many developing countries in
365-673: A positive or a negative phenomenon. Economic globalization comprises: globalization of production; which refers to the obtainment of goods and services from a particular source from locations around the globe to benefit from difference in cost and quality. Likewise, it also comprises globalization of markets; which is defined as the union of different and separate markets into a massive global marketplace. Economic globalization also includes competition, technology, and corporations and industries. Current globalization trends can be largely accounted for by developed economies integrating with less developed economies by means of foreign direct investment ,
438-682: A series of agreements to remove trade restrictions. GATT's successor was the World Trade Organization (WTO), which provided a framework for negotiating and formalizing trade agreements and a dispute resolution process. Exports nearly doubled from 8.5% of total gross world product in 1970 to 16.2% in 2001. The approach of using global agreements to advance trade stumbled with the failure of the Doha Development Round of trade negotiation. Many countries then shifted to bilateral or smaller multilateral agreements, such as
511-413: A state is not dependent on another, then there is no way for either state to be mutually affected by the other. This is one of the driving forces behind global connections and trade; without either, globalization would not have emerged the way it did and states would still be dependent on their own production and resources to work. This is one of the arguments surrounding the idea of early globalization. It
584-525: A third of the world's human population—have used the services of the Internet. Growth of globalization has never been smooth. One influential event was the late 2000s recession , which was associated with lower growth (in areas such as cross-border phone calls and Skype usage) or even temporarily negative growth (in areas such as trade) of global interconnectedness. The China–United States trade war , starting in 2018, negatively affected trade between
657-485: A transformation in the organization of human affairs by linking together and expanding human activity across regions and continents. Without reference to such expansive spatial connections, there can be no clear or coherent formulation of this term. ... A satisfactory definition of globalization must capture each of these elements: extensity (stretching), intensity, velocity and impact. Held and his co-writers' definition of globalization in that same book as "transformation in
730-405: Is agency-extended globalization, the circulation of agents of different institutions, organizations, and polities , including imperial agents. Object-extended globalization, a third form, is the movement of commodities and other objects of exchange. He calls the transmission of ideas, images, knowledge, and information across world-space disembodied globalization, maintaining that it is currently
803-469: Is argued that archaic globalization did not function in a similar manner to modern globalization because states were not as interdependent on others as they are today. Also posited is a "multi-polar" nature to archaic globalization, which involved the active participation of non-Europeans. Because it predated the Great Divergence in the nineteenth century, where Western Europe pulled ahead of
SECTION 10
#1732772616630876-441: Is due to human error as a result of lack of enforcement, advances in technology and ship design hope to improve the rates at which containers may be lost at sea. Other challenges being pursued in the maritime industry include adaptation to a more globalized economy. While the maritime industry has always remained global by nature, shipping lines are now experiencing phenomenon that is unprecedented in scale or unseen at all before
949-450: Is filled with a range of norms , claims, beliefs, and narratives about the phenomenon itself. James and Steger stated that the concept of globalization "emerged from the intersection of four interrelated sets of ' communities of practice ' ( Wenger , 1998): academics, journalists, publishers/editors, and librarians." They note the term was used "in education to describe the global life of the mind"; in international relations to describe
1022-466: Is high. The cause of this is due to the purchase of secondhand ships, the return on which can often be covered fairly quickly for commercial ships. Newer, expensive ships require a larger return on the investment but pay off quickly. This is because these ships typically cater to a larger, more expensive crowd. For instance, new cruise ships can often be paid off within ten years due to the entrepreneurial nature of its intended purpose. Innovations in
1095-399: Is the process of interaction and integration among people, companies, and governments worldwide. The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialisation ), developed its current meaning sometime in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of
1168-409: Is used to refer to the fear of globalization, though it can also mean the fear of balloons . There are both distal and proximate causes which can be traced in the historical factors affecting globalization. Large-scale globalization began in the 19th century. Archaic globalization conventionally refers to a phase in the history of globalization including globalizing events and developments from
1241-709: The Atlantic Ocean took place and by 1833, shipping lines had begun to operate steamships between Britain and British Empire possessions such as India and Canada . Three major British shipping lines were founded in the 1830s: the British and American Steam Navigation Company, the Great Western Steamship Company and the Peninsular Steam Navigation Company. The United States federal government passed
1314-748: The East . Without the spread of traditional ideas from the East, Western globalization would not have emerged the way it did. The interactions of states were not on a global scale and most often were confined to Asia, North Africa , the Middle East , and certain parts of Europe. With early globalization, it was difficult for states to interact with others that were not close. Eventually, technological advances allowed states to learn of others' existence and thus another phase of globalization can occur. The third has to do with inter-dependency, stability, and regularity. If
1387-494: The Great Lakes operate shipping for approximately eight months each year, but cannot continue operations during winter months when the lakes typically freeze. Most inland shipping lines are based on speed and efficiency to deliver cargo. Contemporary maritime transportation is bound by geographical constraints, political regulation, and commercial interests. Modern advances and innovations in shipping technology have grown
1460-519: The Great Recession . New opposing views from some economists have argued such trends are a result of price drops and in actuality, trade volume is increasing, especially with agricultural products, natural resources and refined petroleum. Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross- border movement of goods, services, technology, and capital. Whereas
1533-621: The Indus Valley civilization in the third millennium BCE . This archaic globalization existed during the Hellenistic Age , when commercialized urban centers enveloped the axis of Greek culture that reached from India to Spain, including Alexandria and the other Alexandrine cities. Early on, the geographic position of Greece and the necessity of importing wheat forced the Greeks to engage in maritime trade. Trade in ancient Greece
SECTION 20
#17327726166301606-951: The International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions , capital and investment movements, migration and movement of people, and the dissemination of knowledge. Globalizing processes affect and are affected by business and work organization, economics, sociocultural resources, and the natural environment. Academic literature commonly divides globalization into three major areas: economic globalization , cultural globalization , and political globalization . Proponents of globalization point to economic growth and broader societal development as benefits, while opponents claim globalizing processes are detrimental to social well-being due to ethnocentrism , environmental consequences, and other potential drawbacks. Between 1990 and 2010, globalisation progressed rapidly, driven by
1679-503: The International Organization for Standardization , which is composed of representatives from various national standards organizations . A multinational corporation , or worldwide enterprise, is an organization that owns or controls the production of goods or services in one or more countries other than their home country. It can also be referred to as an international corporation, a transnational corporation, or
1752-716: The Karachi Stock Exchange . Muhammadi House on McLeod Road (now I. I. Chundrigar Road ) was the headquarters of the company. Shipping company Shipping companies provide a method of distinguishing ships by different kinds of cargo: Inland shipping along rivers and other freshwater bodies are used to transport cargo to ports other than those along the coast. Inland shipping requires more infrastructure than ocean shipping. Rivers and lakes require infrastructure, such as river ports and canals , to be considered developed and ready for commercial use. Much of this infrastructure became more widely developed during
1825-732: The Merchant Marine Act to protect American shipping interests in response to changing foreign shipping policy. The responsibilities established under the Shipping Act were eventually transferred to the Department of Commerce in 1933 by President Franklin D. Roosevelt. The Federal Maritime Commission was created in 1961 by President John F. Kennedy to regulate shipping activity in the United States, finally giving blanket authority to one shipping commission. At
1898-713: The Thirty Years' War , and demand for commodities, most particularly slaves . The triangular trade made it possible for Europe to take advantage of resources within the Western Hemisphere . The transfer of animal stocks, plant crops, and epidemic diseases associated with Alfred W. Crosby 's concept of the Columbian exchange also played a central role in this process. European, Middle Eastern, Indian, Southeast Asian , and Chinese merchants were all involved in early modern trade and communications, particularly in
1971-517: The University of Aberdeen and an early writer in the field, described globalization as "the compression of the world and the intensification of the consciousness of the world as a whole." In Global Transformations , David Held and his co-writers state: Although in its simplistic sense globalization refers to the widening, deepening and speeding up of global interconnection, such a definition begs further elaboration. ... Globalization can be on
2044-545: The developing countries and least developed countries (LDCs). As economic integration intensified workers moved to areas with higher wages and most of the developing world oriented toward the international market economy. The collapse of the Soviet Union not only ended the Cold War's division of the world – it also left the United States its sole policeman and an unfettered advocate of free market. It also resulted in
2117-411: The history of globalization , and of modern globalization. Economically, globalization involves goods, services , data, technology, and the economic resources of capital . The expansion of global markets liberalizes the economic activities of the exchange of goods and funds. Removal of cross-border trade barriers has made the formation of global markets more feasible. Advances in transportation, like
2190-488: The post–Cold War world . Its origins can be traced back to 18th and 19th centuries due to advances in transportation and communications technology . This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture. Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, disputes and international diplomacy are also large parts of
2263-518: The steam locomotive , steamship , jet engine , and container ships , and developments in telecommunication infrastructure such as the telegraph , the Internet , mobile phones , and smartphones , have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe. Though many scholars place the origins of globalization in modern times , others trace its history to long before
Muhammadi Steamship Company Limited - Misplaced Pages Continue
2336-558: The 17th century, world trade developed further when chartered companies like the British East India Company (founded in 1600) and the Dutch East India Company (founded in 1602, often described as the first multinational corporation in which stock was offered) were established. An alternative view from historians Dennis Flynn and Arturo Giraldez, postulated that: globalization began with
2409-422: The 1980s and 1990s. The revolutions of 1989 and subsequent liberalization in many parts of the world resulted in a significant expansion of global interconnectedness. The migration and movement of people can also be highlighted as a prominent feature of the globalization process. In the period between 1965 and 1990, the proportion of the labor force migrating approximately doubled. Most migration occurred between
2482-595: The 19th and 20th centuries. Some principal waterways used by shipping lines in the 20th century were the Rhine , Amazon River , Congo River , Nile River , Mississippi River , and Columbia River . Examples of waterway infrastructure include the Suez Canal and the Panama Canal . These waterways are still in use for commercial purposes today. Some waterways can only operate under seasonal conditions. For example,
2555-493: The 19th century, steamships reduced the cost of international transportation significantly and railroads made inland transportation cheaper. The transportation revolution occurred some time between 1820 and 1850. More nations embraced international trade . Globalization in this period was decisively shaped by nineteenth-century imperialism such as in Africa and Asia . The invention of shipping containers in 1956 helped advance
2628-403: The 2011 United States–Korea Free Trade Agreement . Since the 1970s, aviation has become increasingly affordable to middle classes in developed countries . Open skies policies and low-cost carriers have helped to bring competition to the market . In the 1990s, the growth of low-cost communication networks cut the cost of communicating between countries. More work can be performed using
2701-587: The 2022 Russian invasion of Ukraine included a blockade of Ukrainian ports and international sanctions on Russia , resulting in some de-coupling of the Russian economy with global trade, especially with the European Union and other Western countries. Modern consensus for the last 15 years regards globalization as having run its course and gone into decline. A common argument for this is that trade has dropped since its peak in 2008, and never recovered since
2774-421: The 21st century. Many of these issues surround the nature of increased cooperation in the maritime industry. For instance, cooperation among many shipping lines in the industry is causing an anticompetitive market. This is one of the reasons for the high level of contestability in the shipping industry. With more cooperation among shipping lines, there are larger rates of ships and companies entering and leaving
2847-568: The European Age of Discovery and voyages to the New World , and some even to the third millennium BCE. Large-scale globalization began in the 1820s, and in the late 19th century and early 20th century drove a rapid expansion in the connectivity of the world's economies and cultures. The term global city was subsequently popularized by sociologist Saskia Sassen in her work The Global City: New York, London, Tokyo (1991). In 2000,
2920-618: The Indian Ocean region. According to economic historians Kevin H. O'Rourke , Leandro Prados de la Escosura, and Guillaume Daudin, several factors promoted globalization in the period 1815–1870: During the 19th century, globalization approached its form as a direct result of the Industrial Revolution . Industrialization allowed standardized production of household items using economies of scale while rapid population growth created sustained demand for commodities. In
2993-487: The Shipping Act of 1916 as a protection agency for American shipping. The act, passed during World War I but before the nation officially entered the war, helped American shipping lines during a period when commercial shipping grew under the demands of the war. Under this act, the United States Shipping Board was also formed. In 1920, after the end of World War I, the federal government passed
Muhammadi Steamship Company Limited - Misplaced Pages Continue
3066-575: The Silk Routes. In addition to economic trade, the Silk Road served as a means of carrying out cultural trade among the civilizations along its network. The movement of people, such as refugees, artists, craftsmen, missionaries , robbers, and envoys, resulted in the exchange of religions, art, languages, and new technologies. From around 3000 BCE to 1000 CE, connectivity within Afro-Eurasia
3139-633: The World Bank and the IMF to become global financial market regulators that would promote neoliberalism and the creation of free markets for multinational corporations on a global scale. In the late 19th and early 20th century, the connectedness of the world's economies and cultures grew very quickly. This slowed down from the 1910s onward due to the World Wars and the Cold War , but picked up again in
3212-414: The dominant form of globalization. James holds that this series of distinctions allows for an understanding of how, today, the most embodied forms of globalization such as the movement of refugees and migrants are increasingly restricted, while the most disembodied forms such as the circulation of financial instruments and codes are the most deregulated . The journalist Thomas L. Friedman popularized
3285-450: The emergence of a transnational élite and a phasing out of the nation-state . Meanwhile, he used "cultural globalization" to reference the worldwide homogenization of culture. Other of his usages included " ideological globalization", " technological globalization", and "social globalization". Lechner and Boli (2012) define globalization as more people across large distances becoming connected in more and different ways. "Globophobia"
3358-498: The extension of the European Common Market , and in journalism to describe how the "American Negro and his problem are taking on a global significance". They have also argued that four forms of globalization can be distinguished that complement and cut across the solely empirical dimensions. According to James, the oldest dominant form of globalization is embodied globalization, the movement of people. A second form
3431-509: The first circumnavigation of the globe under the Magellan-Elcano expedition which preluded the rise of global silver trade . Early modern globalization is distinguished from modern globalization on the basis of expansionism , the method of managing global trade, and the level of information exchange. The period is marked by the shift of hegemony to Western Europe, the rise of larger-scale conflicts between powerful nations such as
3504-500: The form of structural adjustment programs (SAPs) that were implemented by the World Bank and the International Monetary Fund (IMF). These programs required that the country receiving monetary aid would open its markets to capitalism, privatize public industry, allow free trade, cut social services like healthcare and education and allow the free movement of giant multinational corporations. These programs allowed
3577-423: The globalization of business is centered around the diminution of international trade regulations as well as tariffs , taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, economic globalization can be viewed as either
3650-581: The globalization of commerce. After World War II, work by politicians led to the agreements of the Bretton Woods Conference , in which major governments laid down the framework for international monetary policy , commerce, and finance, and the founding of several international institutions intended to facilitate economic growth by lowering trade barriers . Initially, the General Agreement on Tariffs and Trade (GATT) led to
3723-521: The great chagrin of Reactionists, it has drawn from under the feet of industry the national ground on which it stood. All old-established national industries have been destroyed or are daily being destroyed. . . . In place of the old local and national seclusion and self-sufficiency, we have intercourse in every direction, universal inter-dependence of nations. Sociologists Martin Albrow and Elizabeth King define globalization as "all those processes by which
SECTION 50
#17327726166303796-440: The great movements of trade and empire across Asia and the Indian Ocean from the 15th century onward. In 1848, Karl Marx noticed the increasing level of national inter-dependence brought on by capitalism , and predicted the universal character of the modern world society. He states: The bourgeoisie has through its exploitation of the world market given a cosmopolitan character to production and consumption in every country. To
3869-500: The growing prominence of attention focused on the movement of diseases, the proliferation of popular culture and consumer values, the growing prominence of international institutions like the UN, and concerted international action on such issues as the environment and human rights. Other developments as dramatic were the Internet's becoming influential in connecting people across the world; As of June 2012 , more than 2.4 billion people—over
3942-534: The historically variable ways that it has been practiced and socially understood through changing world-time. Manfred Steger , professor of global studies and research leader in the Global Cities Institute at RMIT University , identifies four main empirical dimensions of globalization : economic, political, cultural, and ecological . A fifth dimension—the ideological—cutting across the other four. The ideological dimension, according to Steger,
4015-415: The industry. As of 2019, business and economic analysists are attempting to find solutions to reduce the anticompetitive practices and promote competitive growth in the maritime industry. Large-scale shipping lines became widespread in the nineteenth century, after the development of the steamship in 1783. At first, Great Britain was the centre of development; in 1819, the first steamship crossing of
4088-459: The information and communication technology revolution that lowered communication costs, along with trade liberalisation and the shift of manufacturing operations to emerging economies (particularly China). The word globalization was used in the English language as early as the 1930s, but only in the context of education, and the term failed to gain traction. Over the next few decades, the term
4161-409: The people of the world are incorporated into a single world society." In The Consequences of Modernity , Anthony Giddens writes: "Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa." In 1992, Roland Robertson , professor of sociology at
4234-605: The phase of increasing trade links and cultural exchange that characterized the period immediately preceding the advent of high "modern globalization" in the late 19th century. This phase of globalization was characterized by the rise of maritime European empires, in the 15th and 17th centuries, first the Portuguese Empire (1415) followed by the Spanish Empire (1492), and later the Dutch and British Empires . In
4307-451: The process of world shrinkage, of distances getting shorter, things moving closer. It pertains to the increasing ease with which somebody on one side of the world can interact, to mutual benefit, with somebody on the other side of the world. Paul James defines globalization with a more direct and historically contextualized emphasis: Globalization is the extension of social relations across world-space, defining that world-space in terms of
4380-442: The reduction of trade barriers as well as other economic reforms, and, in many cases, immigration. International standards have made trade in goods and services more efficient. An example of such standard is the intermodal container . Containerization dramatically reduced the costs of transportation, supported the post-war boom in international trade , and was a major element in globalization. International standards are set by
4453-439: The rest of the world in terms of industrial production and economic output , archaic globalization was a phenomenon that was driven not only by Europe but also by other economically developed Old World centers such as Gujarat , Bengal , coastal China , and Japan . The German historical economist and sociologist Andre Gunder Frank argues that a form of globalization began with the rise of trade links between Sumer and
SECTION 60
#17327726166304526-782: The same time, the United States Maritime Administration , or MARAD, was founded to regulate the merchant marine industry and fleet. However, a sharp rise in international ocean trade gave the two agencies expanded power in the growing maritime industry. Globalization 1800s: Martineau · Tocqueville · Marx · Spencer · Le Bon · Ward · Pareto · Tönnies · Veblen · Simmel · Durkheim · Addams · Mead · Weber · Du Bois · Mannheim · Elias Globalization ( North American spelling ; also Oxford spelling [UK]) or globalisation (non-Oxford British spelling ; see spelling differences )
4599-620: The shipping industry are also being utilized by shipping lines to find solutions to global problems. For example, modern technology and research is being used to analyze the phenomenon of shipping containers disappearing while at sea. These problems are being researched in part by government agencies, such as the National Oceanic and Atmospheric Administration that operates in the Monterey Bay National Marine Sanctuary . While part of this issue
4672-409: The shipping industry since the twentieth century. Many of these advances include the size of vessels, the size of fleets, specialty purposes for ships within the fleet, naval architecture and design, and automated ship systems. In terms of commercial interests, the maritime industry has a high level of contestability for shipping lines. This means that the ease of entering and leaving the industry
4745-497: The spatial organization of social relations and transactions—assessed in terms of their extensity, intensity, velocity and impact—generating transcontinental or inter-regional flows" was called "probably the most widely-cited definition" in the 2014 DHL Global Connectiveness Index . Swedish journalist Thomas Larsson, in his book The Race to the Top: The Real Story of Globalization , states that globalization: ...is
4818-729: The stake. Under the Valika family's leadership, the company built Al-Abbas , which was the first major ship to be built in Karachi Shipyard. The company was nationalized by the Government of Pakistan under then President Zulfikar Ali Bhutto . It was later merged with other Pakistani nationalized shipping companies to create the Pakistan National Shipping Corporation . In 1949, it became the first Pakistani shipping line to be publicly listed on
4891-551: The term "flat world" , arguing that globalized trade , outsourcing , supply-chaining , and political forces had permanently changed the world, for better and worse. He asserted that the pace of globalization was quickening and that its impact on business organization and practice would continue to grow. Economist Takis Fotopoulos defined "economic globalization" as the opening and deregulation of commodity , capital , and labor markets that led toward present neoliberal globalization. He used "political globalization" to refer to
4964-536: The term and bringing it into the mainstream business audience in the later in the middle of 1980s. Though often treated as synonyms, in French, globalization is seen as a stage following mondialisation, a stage that implies the dissolution of national identities and the abolishment of borders inside the world network of economic exchanges. Since its inception, the concept of globalization has inspired competing definitions and interpretations. Its antecedents date back to
5037-472: The time of the earliest civilizations until roughly the 1600s. This term is used to describe the relationships between communities and states and how they were created by the geographical spread of ideas and social norms at both local and regional levels. In this schema, three main prerequisites are posited for globalization to occur. The first is the idea of Eastern Origins, which shows how Western states have adapted and implemented learned principles from
5110-494: The two largest national economies. The economic impact of the COVID-19 pandemic included a massive decline in tourism and international business travel as many countries temporarily closed borders. The 2021–2022 global supply chain crisis resulted from temporary shutdowns of manufacturing and transportation facilities, and labor shortages. Supply problems incentivized some switches to domestic production. The economic impact of
5183-571: Was centered upon the Indo-Mediterranean region, with the Silk Road later rising in importance with the Mongol Empire's consolidation of Asia in the 13th century. " Early modern " or "proto-globalization" covers a period of the history of globalization roughly spanning the years between 1600 and 1800. The concept of "proto-globalization" was first introduced by historians A. G. Hopkins and Christopher Bayly . The term describes
5256-639: Was largely unrestricted: the state controlled only the supply of grain. Trade on the Silk Road was a significant factor in the development of civilizations from China, the Indian subcontinent , Persia , Europe, and Arabia , opening long-distance political and economic interactions between them. Though silk was certainly the major trade item from China, common goods such as salt and sugar were traded as well; and religions , syncretic philosophies, and various technologies, as well as diseases, also traveled along
5329-472: Was occasionally used by other scholars and media, but it was not clearly defined. One of the first usages of the term in the meaning resembling the later, was by French economist François Perroux in his essays from the early 1960s (in his French works he used the term " mondialisation " (literarly worldization in French ), also translated as mundialization). Theodore Levitt is often credited with popularizing
#629370