How does globalisation affect freight transport

Coyle, Kusumal Ruamsook and Evelyn A.

How does globalisation affect freight transport

Comtois also recognizes that transportation plays a considerable role in the economy with its omnipresence throughout the production chain, at all geographic scales.

Singapore Review stated that Singapore is heavily dependent on exports; therefore freight transportation holds an important role in stimulating the economy of Singapore and making it what it is today.

Singapore also boosts world-class seaport and airport facilities and an extensive network of expressways, allowing efficient and effective transfer of cargo between multiple modes of transport.

World Trade Magazine Decemberp. In a Web-based survey conducted by a World Bank study in year with some freight forwarders and express carriers in international logistics businesses in countries, Singapore came out tops out of countries in terms of speed in the clearance export shipments, the competency of custom brokers and corruption-free logistics environment, etc.

From here one could see that the efficiency of freight transportation in Singapore also plays an important part in attracting foreign organizations to establish bases of operations here for the distribution of goods and services regionally as well as internationally.

One such organization is Broadcom, a company that specializes in producing electronic products. The airport, customs, and logistics aspect is very important to us because the material we manufacture throughout Asia comes through Singapore. Broadcom needs a very good logistics base and Singapore has the best of any countries in Asia.

For instance, setting up our internal ISDN network is easy and effective. The presence of many other regional offices here helps. For instance, we could negotiate some regional contracts with shipping lines or third-party logistics warehousing without having to search extensively in the region.

Singapore as a major sea and air transportation and transshipment hub has been a positive factor in our trading operations. Business transactions depend on a fast and reliable transportation network, because time saved is money saved.

And to ensure a smooth flow of road traffic in Singapore, the government has also taken several steps to ease congestion such as controlling the ownership of vehicles, encouraging the use of public transport and erecting Electronic Road Pricing ERP gantries at frequently congested roads to encourage motorists to make use of alternate roads to reach their destinations.

This project represents a new breakthrough in the history of transport development in Singapore due to the extensive funds invested and the high level of engineering expertise required.

How Does Globalisation Affect Freight Transport In Singapore Essays

Gross Domestic Products by Industry Source: Singapore Department of Statistics, Table 2. Government Development Expenditure Source: This means that as more goods or products are consumed in the markets, there would be an increase in the requirements for transportation tools to be able to move these products efficiently to meet the demand.

On the other hand, transportation systems also help determine the economic value of products Bardi, Coyle and Novack, This is because transportation can also help increase the market area of a product by bridging the gap between the buyer and the seller, and thus increases its economic value by moving it to the right place and at the right time.

How does globalisation affect freight transport

Therefore one could also say that transportation lays the foundation for the growth of Singapore economy since almost all of its exports in terms of goods require some form of transport. This has prompted freight transportation in Singapore to be more adaptable and technologically advanced in order handle such increasingly sophisticated and sensitive products.

The capacity to handle an increase in demand should also be taken in account. It also means that freight transport providers now have to undertake more risks as products start to increase in value and require special handling and competitors start to emerge.How Does Globalisation Affect Freight Transport in Singapore INTRODUCTION There is little doubt that an effective transportation system is the backbone of a sound economic society (Bloomberg, Hanna and Murray, ).

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This will push transport-related businesses such as freight forwarding and third-party logistics providers to evolve and acquire new knowledge as well as technology to meet the new challenges of moving freight within a global economy. Though transportation plays an important role on the economy, Pompeo and Sapountzis () argued that the demand for freight transport is very much dependent on global economy cycles. This means that the state of the economy does affect the performance of the freight transportation industry as well, which exposes it to the volatility of demand. a global industry. Still, passengers transportation is a marginal, albeit visible, component of globalization. By the second half of the 20 th century, many international transportation systems were in place, forming the basis of a global transport system and reinforced by a global telecommunication network.

Global business has grown tremendously since WWII. Organizations like the WTO, along with innovations in technology and transportation constitute substantial movement toward globalization.

Potential for creating new markets as well as cost savings push companies to consider globalization. Though transportation plays an important role on the economy, Pompeo and Sapountzis () argued that the demand for freight transport is very much dependent on global economy cycles.

This means that the state of the economy does affect the performance of the freight transportation industry as well, which exposes it to the volatility of demand. Though transportation plays an important role on the economy, Pompeo and Sapountzis () argued that the demand for freight transport is very much dependent on global economy cycles.

This means that the state of the economy does affect the performance of the freight transportation industry as well, which exposes it to the volatility of demand.

How does globalisation affect freight transport

As they try to quickly adapt their supply chains in order to take advantage of lower tariffs, rules and standards within these new trade zones, companies need the help of multinational logistics firms with a local presence and expertise across the globe.