According to the Liner Transport Connectivity Index (LSCI) released by the United Nations Conference on Trade and Development (UNCTAD), China tops the list, followed by South Korea and Singapore.

    Key global maritime chokepoints such as the Panama Canal, the Red Sea and Suez Canal, and the Black Sea are under severe pressure, according to the "2024 Maritime Review" report released by the United Nations Conference on Trade and Development (UNCTAD) on the 22nd local time. Geopolitical tensions, climate impacts, and regional conflicts have combined to shake up global trade and threaten the functioning of maritime supply chains.

    Traffic on the Panama and Suez canals is down more than 50% from peak levels

    The report expects global seaborne trade to grow slightly by 2 percent in 2024, driven by demand for commodities such as iron ore, coal and grains, as well as containerized cargoes, but it also faces deeper challenges. The Panama and Suez Canals, vital arteries for global trade, saw traffic on the two canals fall by more than 50 percent by mid-2024 compared to their peak. The decline was caused by a drop in water levels in the Panama Canal due to the weather, and by conflicts in the Red Sea that affected the Suez Canal.

    Global consumer prices are expected to rise by 0.6% in 2025

    Major shipping routes have been severely disrupted, causing delays, diversions and rising costs, adding significant pressure to global logistics and straining supply chains. One analysis suggests that if the Red Sea and Panama Canal crises persist, global consumer prices could rise by 0.6% by 2025, with small island developing States and least developed countries facing higher price increases.

    Asian countries perform strongly as China delivers more than half of the world's new ships for the first time

    The report also noted that despite the impact of the global maritime industry, Asian countries have consolidated their leading position in shipping connectivity, facilitating trade and driving growth. Asia, with its strong maritime industry, remains the region best connected to global shipping networks.

    According to the Liner Transport Connectivity Index (LSCI) released by the United Nations Conference on Trade and Development (UNCTAD), China tops the list, followed by South Korea and Singapore. When it comes to ship construction, China, Japan and South Korea continue to dominate, accounting for about 95% of global production. In 2023, China accounted for more than half of the world's new ship deliveries for the first time.

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