Tag: UNCTAD

According to UNCTAD’s Review of Maritime Transport 2022 , the maritime transport and trade systems are  evolving in complex global economic environment and being buffeted by cascading disruptions. But they are also being reshaped by other global factors that can trigger structural shifts.

According to UNCTAD's Review of Maritime Transport 2022 , the maritime industry needs to take action and focus on ten specific areas to move forward.

Global trade will reach a record level of about US$ 32 trillion for 2022, as trade in goods is expected to total almost US$ 25 trillion, an increase of about 10% from 2021. However, trade growth has been subdued during the second half of the year.

UNCTAD in its "Review of Maritime Transport 2022" has called for increased investment in maritime supply chains. As it said "ports, shipping fleets and hinterland connections need to be better prepared for future global crises, climate change and the transition to low-carbon energy."

IMO, UNCTAD, IRENA and the World Bank organized a COP 27 side event, on 10 November, exploring opportunities for developing States in renewable fuel production for the maritime industry.

UNCTAD's annual Trade and Development Report 2022 projects global growth of 2.5% in 2022 slowing to 2.2% in 2023 and outlines actions to avert crisis and support developing countries.

According to Rebeca Grynspan, Secretary-General of UNCTAD, maritime trade is going through a historic moment of crisis and disruption. However, this is also an opportunity for maritime to further evolve and provide critical solutions.

UNCTAD says the war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of shipping around the world.

The IMO Secretariat initiated a project aiming to improve the availability of relevant maritime transport costs data for the Pacific SIDS/Pacific Region.

According to UNCTAD, the maritime industry is a complex ecosystem that includes various value chains that require efforts by all stakeholders. However, three value chains are central to steering the sector’s decarbonization actions.