Tag: UNCTAD

The full potential of EU free trade agreements remains untapped to the tune of almost 72 billion euros, according to a new report by UNCTAD and the National Board of Trade Sweden. This is the amount that European exporters overpaid because they did not take full advantage of the reduced tariffs offered by the FTAs that EU has signed with many developed and developing countries.

After the ‘Paradise Papers’ revealed tax avoidance in UK overseas territories, Nautilus calls for the UK government to restrict the operation of so-called Red Ensign Group ship registries from the same locations.

With global demand for seaborne trade still uncertain, freight rates continued to be determined by the way supply capacity management was being handled, UN Conference on Trade and Development informed on its latest report.

The top five shipowners in terms of cargo carrying capacity are Greece, Japan, China, Germany and Singapore; together, these five countries have a market share of 49.5% of dwt, according to UN Conference on Trade and Development's latest report.

UNCTAD's Review of Maritime Transport for 2017 showed that world seaborne trade volumes expanded by 2.6%, up from 1.8% in 2015 and the world fleet capacity increased by an estimated 3.2%, down from 3.5% in 2015. The squeeze was felt in the container shipping market, which reported a collective operating loss of $3.5 billion.

​UN Conference on Trade and Development issued maritime statistics on the world shipping fleet by flag and by country of ownership, for 2017, as well as the 2016 tonnage for ship building and scrapping. Top 5 ship owners are Greece, Japan, China, Germany and Singapore and together they have a market share of 49.5% of dwt.

On 16 May 2017, ship tracking intelligence company MarineTraffic and the United Nations Conference on Trade & Development signed a Memorandum of Understanding, in order to share information and data that will enable both organisations to enhance their services and allow for more accurate analysis of global trade and shipping trends.

UNCTAD highlights the importance of monitoring and tracking progress towards the achievement of relevant economic, social and environmental targets in the maritime transport. In a meeting held yesterday, the organization discussed about indicators which are recognized as critical for maritime business and its users, as well as for governments and policy makers.

Upon the entry into force of the Trade Facilitation Agreement, countries that have ratified it should follow some steps. Therefore, the Trade Facilitation Agreement (TFA) of the World Trade Organization has set forth measures to expediting the movement, release and clearance of goods across borders, as well as reducing the related costs.

The world’s poorest countries are barely engaging in the global economy, but fully liberalising trade for these countries into G20 markets could boost their exports by about 15%, according to an UNCTAD report.