The global maritime transport industry includes the transport of goods and passengers through waterways. Maritime transport is one of the important channels to operate the global economy seamlessly. As per the United Nations, more than 90% of the global trade is carried by the sea route every year. Oil tankers, bulk carriers, general cargo ships, container ships, gas carriers, chemical tankers, offshore vessels, and others are used to transport goods globally. Some of the major factors that were augmenting the maritime transport industry before the COVID-19 pandemic include increasing globalization and global trade activities, rising e-commerce market among others. Moreover, rising disposable income of the people, continuous new launch of cruise ships were some of the major factors for increasing the maritime passenger transport industry.