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Global maritime chokepoints are under pressure, exposing the vulnerability of supply chains. Maritime trade grew by 2.4% in 2023, reaching 12,292 million tons, showing recovery after 2022. But the future is uncertain. Key chokepoints like the Suez and Panama canals are facing disruptions from conflicts and climate change. Rising shipping costs from longer routes hit vulnerable economies the hardest. Small island developing states and least developed countries are especially impacted. Urgent acti
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Maritime transport is the lifeblood of the global economy, carrying over 80% of the world's trade volume. This vital sector also contributes to nearly 3% of global greenhouse gas emissions. As sea-borne trade has grown, emissions have grown, too, by 20% in just the past decade. “We need bold global action to decarbonize shipping. To ensure a just and fair transition, we must engage with all stakeholders in the shipping industry. We call for a multilateral regulatory framework applicable to all s
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