Global Shipping Authorities Warn of Maritime Trade Breakdown Amid Geopolitical Turmoil
8 Articles
8 Articles
Shipping powers warn global maritime rulebook is breaking down
Eighteen of the world’s leading maritime nations have issued an unusually stark warning that the international rules underpinning global shipping are being eroded, threatening to fragment both maritime markets and global trade. In a public statement titled In defence of free shipping, the Consultative Shipping Group (CSG), whose members include Greece, Japan, South Korea, Singapore, …
Previously established laws governing world shipping cease to work, which constitutes a threat to international trade, written the Financial... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CSG warns that what is happening is no longer an isolated crisis, but signs of a “structural shift” in global trade.
The world's 18 leading maritime nations have warned that a shadow tanker fleet of over 1,500 vessels and rising geopolitical tensions are eroding the fundamental rules of global maritime trade. The risks extend to freight and supply chains.
In a rare public intervention, the Consultative Shipping Group (CSG), representing 18 major shipping countries, including Greece, warns that wars, “shadow” shipping and the growing challenge to international rules are creating a structural change in global trade. As the FT reports, the shipping industry has relied for decades on an international framework of rules that guarantees freedom of navigation and the protection of merchant ships from in…
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