Review of Maritime Transport 2024: Navigating Maritime Chokepoints
Foreword
The Review of Maritime Transport 2024, prepared by the United Nations Conference on Trade and Development (UNCTAD), provides an in-depth analysis of global maritime trade. This report covers data and events from January 2023 to July 2024. It aims to foster transparency in maritime markets and analyze relevant developments.
Abbreviations
Not provided explicitly but typically includes common maritime abbreviations such as M/T (metric ton), N/mile (nautical mile), and TEU (twenty-foot equivalent unit).
Chapter I: International Maritime Trade
A. Maritime Trade Flows: The Big Picture
- Moderate Volume Growth and Longer Distances in 2023: The year saw moderate growth in maritime trade volumes, with longer distances traveled.
- Positive Outlook for Seaborne Trade Amid Increased Risks: Despite increased geopolitical and economic risks, the outlook for seaborne trade remains positive for 2024 and beyond.
- Trends in the World Economy: Maritime trade is influenced by broader economic trends, with notable shifts observed in various sectors.
B. Maritime Trade Flows: Sector-Specific Developments
- Positive Outlook for Dry Bulk Trade: The dry bulk sector is expected to perform well, driven by strong demand and favorable market conditions.
- Robust Energy Trade: Energy trade remains resilient, supported by consistent demand and stable supply chains.
Vessel Groupings
- Oil Tankers: Includes ultra-large crude carriers (ULCCs) and very large crude carriers (VLCCs).
- Bulk Carriers: Comprises capesize, panamax, handysize, and other bulk carriers.
- Container Ships: Divided into neo panamax, panamax, and smaller container ship categories.
- Other Ships: Includes specialized vessels like LNG carriers, chemical tankers, and general cargo ships.
Key Data Points
- Vessel Size Groups:
- Crude Oil Tankers: ULCCs (320,000 dwt and above), VLCCs (200,000–319,999 dwt), Suezmax (125,000–199,999 dwt), Aframax (85,000–124,999 dwt), Panamax (55,000–84,999 dwt), Medium Range (40,000–54,999 dwt), Short Range/Handy Tankers (25,000–39,000 dwt).
- Dry Bulk Carriers: Capesize (100,000 dwt and above), Panamax (65,000–99,999 dwt), Handymax (40,000–64,999 dwt), Handysize (10,000–39,999 dwt).
Data Access
UNCTAD maritime statistics are available online at:
Additional Information
- The report uses "ton" to mean metric ton (1,000 kg) and "mile" to mean nautical mile.
- References to dollars ($), unless otherwise stated, are to United States dollars.
- Details and percentages in tables may not always add up due to rounding.
- Two dots (..) in statistical tables indicate unavailable or unreported data.
This summary captures the key points and data from the report, providing a comprehensive overview of the current state and future outlook of international maritime trade.
