Shipping industry being buoyed by China data

The international shipping sector is banking on forecasts that predict growth in the China-led trade of commodities to create an increasingly integrated global infrastructure for services.

On Tuesday, Ben Line and Sharaf, two shipping agencies operating in Asia and the Middle East respectively, created a joint venture called Water-Front Maritime Services for clients requiring new global trade routes.

"Seaborne trade is becoming increasingly international in nature in recent years and China is the key driver, as the volume of Chinese trade with other continents significantly grew since it joined the World Trade Organization," said Terry Gidlow, CEO of WaterFront Maritime Services.