The United Nations Convention on Commerce and Growth (UNCTAD)’s Assessment of Maritime Transport 2023 report explores info and figures relating to maritime commerce, fleet, and transport.

#1 Latin America and Caribbean 

In 2022, Latin America and the Caribbean skilled a major discount in container volumes in comparison with 2019, with the Caribbean coast of Panama recovering extra rapidly and displaying higher ends in exports.

South-South commerce, equivalent to from Africa to Latin America and the Caribbean, contributed 12.5% to international containerized commerce in 2022. Mexico’s share of imports into america has been rising as corporations diversify their provide sources and cut back overdependence on China.

Panama continued to steer within the variety of vessels, business worth, and gross tonnage of its fleet, however the Liberian register has surpassed it when it comes to useless weight tons.

The Panama ship registry recorded a 4.2% progress in useless weight tons between 2022 and 2023, however this was dwarfed by Liberia’s 12.7% progress.

The Bahamas ship registry is the eighth largest flag on the planet, with a fleet of 1,274 vessels totaling 72.6 million useless weight tons. Brazil is the biggest ship-owning nation in South America, with 382 vessels totalling 14.28 million useless weight tonnes, representing 1.45% of the worldwide fleet.

  • Maritime transport efficiency

Contract charges protecting intra-South American commerce rose by a dramatic 397% in 2022, in contrast with 2021. These will increase have been primarily right down to robust demand whereas the availability capability fell quick.

In contrast with 2019, the best will increase in contract charges have been seen throughout routes originating from Asia and destined for South America. Asia-South America charges elevated by 386% in 2022 in comparison with 2019.

#2 Asia

In 2022, intraregional routes took a 27.6% share of worldwide commerce, largely resulting from dynamic intra-Asian container delivery exercise and manufacturing provide chains particular to East Asian nations.

Intra-Asia routes serving intraregional provide chains recorded the best progress charges from 2021 to 2022, reflecting international manufacturing patterns the place China serves as the worldwide manufacturing heart.

Corporations like Apple, Samsung, Sony, and Adidas have moved some manufacturing actions from China to South-East Asia resulting from labor prices and danger administration issues.

World progress projections are at 3.2% for 2023 and a pair of.9% for 2024, with Asia, notably India, South Asia, and Central Asia, projected to report the best progress.

The transpacific route, commerce between East Asia (largely China) and america, continued to dominate international containerized commerce flows however general volumes fell by 6.5%.

Dry bulk shipments declined in 2022 resulting from disrupted Ukraine exports, excessive power costs, and tendencies within the Chinese language financial system. Demand for main dry bulks improved in 2023, pushed by subsequent financial restoration in China.

In the beginning of 2023, 18 of the 35 main ship-owning corporations have been in Asia, with China being the second-largest ship-owning nation after Greece. Ship homeowners in China have an 11.04% share of the world fleet, second solely to Greece with 11.8%. Hong Kong, China is the world’s fourth-largest flag state of registration when it comes to useless weight tonnage, with 200.07 million useless weight tons in its fleet.

  • Maritime transport efficiency

Within the second quarter of 2023, essentially the most related economies have been in Asia, with China taking high spot. Asian nations proceed to steer in cargo dealing with efficiency, with 18 of the highest 25 ports globally in Asia.

Contract charges protecting Asia to South America surged by 386% in 2022 in contrast with 2019, whereas Asia to Africa charges grew by 160% and from Africa to Asia by 248%.

#3 Africa 

From 2018 to 2020, 32% of complete African wheat imports got here from the Russian Federation and Ukraine. Egypt coped with an 81% fall in wheat imports from Ukraine in the course of the first eight months of the struggle by changing the supply of imports with the Russian Federation, the European Union, and america. Ethiopia changed the lack of wheat provide from the Russian Federation and Ukraine with shipments from america and Argentina.

The struggle in Ukraine led European nations to import extra fuel from different suppliers, together with Algeria, to compensate for the lack of shipments from the Russian Federation. South-South commerce equivalent to from Africa to Latin America and the Caribbean contributed 12.5% to international containerized commerce in 2022.

Liberia surpassed Panama because the world’s largest flag state of registration when it comes to useless weight tonnage in 2022, with 378.3 million useless weight tons in its fleet. Liberia recorded a 12.7% progress in ship tonnage between 2022 and 2023. Nigeria is the biggest ship-owning nation in Africa, with 291 vessels totaling 7.94 million useless weight tons. Ships flying the flags of Liberia, Panama, and the Marshall Islands collectively accounted for a couple of third of delivery’s international carbon emissions in 2022.

  • Maritime transport efficiency

Maritime transport efficiency in Africa confirmed a rise in port calls by dry bulk carriers and liquid bulk carriers, with Tanger-Med Port in Morocco rating fifth within the World Financial institution’s Container Port Efficiency Index (CPPI). Coverage reforms inside the East African Neighborhood (EAC) have diminished the time to maneuver cargo from Mombasa to Kampala and the price of transport from Mombasa to Nairobi.