The year 2015 is a milestone for sustainable development
Maritime transport is the backbone of international trade and the global economy. Around 80 per cent of global trade by volume and over 70 per cent of global trade by value are carried by sea and are handled by ports worldwide. These shares are even higher in the case of most developing countries.
According to latest UNCTAD’s Review of Maritime Transport, the year 2015 is a milestone for sustainable development. The international community has a unique opportunity to strengthen its commitment to sustainable development and consider how best to mainstream sustainability principles across all economic activities and sectors, including maritime transport.
In this context, in addition to the review of key economic and legal developments, the present edition of the Review of Maritime Transport highlights some issues that are at the interface of maritime transport and sustainability.
Chapter 1: Seaborne trade
The world economy embarked on a slow-moving recovery led by uneven growth in developed economies and a slowdown in developing countries and economies in transition. In 2014, the world gross domestic product (GDP) increased marginally by 2.5 per cent, up from 2.4 per cent in 2013. Meanwhile, world merchandise trade increased by 2.3 per cent; this is down from 2.6 per cent in 2013 and below the pre-crisis levels.
Chapter 2: The fleet
The world fleet grew by 3.5 per cent during the 12 months to 1 January 2015, the lowest annual growth rate in over a decade. In total, at the beginning of the year, the world’s commercial fleet consisted of 89,464 vessels, with a total tonnage of 1.75 billion dwt
Chapter 3: Freight costs
Developing countries, especially in Africa and Oceania, pay 40 to 70 per cent more on average for the international transport of their imports than developed countries. The main reasons for this situation are to be found in these regions’ trade imbalances, pending port and trade facilitation reforms, as well as lower trade volumes and shipping connectivity.
Chapter 4: Ports
Developing economies’ share of world container port throughput increased marginally to approximately 71.9 per cent. This continues the trend of a gradual rise in developing countries’ share of world container throughput.
Chapter 5: Legal and regulatory framework
Developments during last year in brief: Polar Code will enter into force on January 2017, IMO GHG Study 2014 was finalized, guidelines for HNS Convention were adopted, issuance of a new version of the WCO SAFE Framework, positive developments were noted for maritime piracy, however, concerns remain about the seafarers still being held hostage.
Source & Image Credit: UNCTAD
