{"id":140658,"date":"2024-10-30T19:40:59","date_gmt":"2024-10-30T14:10:59","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=140658"},"modified":"2024-10-31T17:41:18","modified_gmt":"2024-10-31T12:11:18","slug":"maritime-transport-report-2024","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/maritime-transport-report-2024","title":{"rendered":"Review of Maritime Transport report 2024- Navigating Maritime Chokepoints Report"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The United Nations Conference on Trade and Development (UNCTAD) recently released its 2024 Review of Maritime Transport.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Review of Maritime Transport report 2024<\/b><\/span><\/h2>\n<ul>\n<li><b>Objective: <\/b><span style=\"font-weight: 400;\">Analyzing\u00a0 the current state and future of the global maritime industry.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It also emphasizes the need for decarbonization, digital transformation, and resilience against geopolitical and climate-related risks.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>What\u2019s a Choke Point?<\/b><\/span><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">These points are defined as the strategic and narrow passages.\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">It establishes a connection between <\/span><b>two larger areas with each other.\u00a0<\/b><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">In terms of maritime chokepoints, these are canals or straits (The Panama Canal, Suez Canal, Strait of Malacca) that play a significant role in international trade movement due to their optimal location.\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">These regions see high volumes of traffic due to strategic location.\u00a0<\/span>\n<ul>\n<li><b>The Panama Canal:<\/b><span style=\"font-weight: 400;\"> It connects the <\/span><b>Atlantic and Pacific Oceans <\/b><span style=\"font-weight: 400;\">in Central America.\u00a0<\/span><\/li>\n<li><b>Suez Canal: <\/b><span style=\"font-weight: 400;\">This waterway connects\u00a0 the <\/span><b>Mediterranean and Red Seas.\u00a0<\/b><\/li>\n<li><b>Strait of Malacca: <\/b><span style=\"font-weight: 400;\">This chokepoint connects\u00a0 <\/span><b>China, India, and Southeast Asia.\u00a0<\/b>\n<ul style=\"list-style-type: disc;\">\n<li><span style=\"font-weight: 400;\">It is the shortest way between\u00a0 China, India, and Southeast Asia.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Five key insights of the report<\/b><\/span><\/h3>\n<ul>\n<li aria-level=\"1\">\n<h4><span style=\"font-size: 15pt;\"><b>Vulnerabilities of Key Maritime Chokepoints<\/b><\/span><\/h4>\n<ul>\n<li><b>Insight: <\/b><span style=\"font-weight: 400;\">Major shipping chokepoints, such as the <\/span><b>Suez Canal, Panama Canal, and the Red Sea, <\/b><span style=\"font-weight: 400;\">are increasingly at risk from climate change, geopolitical conflicts, and regional instability.<\/span><\/li>\n<li><b>Implications: <\/b><span style=\"font-weight: 400;\">With disruptions like climate-induced low water levels in the Panama Canal and Houthi attacks in the Red Sea, shipping companies face longer routes, higher costs, and increased emissions.<\/span><\/li>\n<li><b>UNCTAD Recommendations: <\/b><span style=\"font-weight: 400;\">Strengthen international cooperation to secure these routes through enhanced infrastructure, early-warning systems, and regional partnerships to prevent disruptions in global supply chains.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h4><span style=\"font-size: 15pt;\"><b>Maritime Trade Recovery Faces Ongoing Risks<\/b><\/span><\/h4>\n<ul>\n<li><b>Insight: <\/b><span style=\"font-weight: 400;\">Global maritime trade grew by 2.4% in 2023 after a decline in 2022, but future growth remains uncertain due to persistent geopolitical and climate risks.<\/span><\/li>\n<li><b>Implications: <\/b><span style=\"font-weight: 400;\">While bulk commodity trade stabilized, container trade grew by just 0.3%. Climate disruptions and geopolitical conflicts, such as in Ukraine, threaten recovery efforts and global supply chains.<\/span><\/li>\n<li><b>UNCTAD Recommendations: <\/b><span style=\"font-weight: 400;\">Invest in resilient infrastructure and diversify trade routes to minimize dependency on vulnerable chokepoints. Promoting regional trade can help balance global supply chains.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\">\n<h4><span style=\"font-size: 15pt;\"><b>Rising Freight Costs Impact Inflation and Growth<\/b><\/span><\/h4>\n<ul>\n<li><b>Insight: <\/b><span style=\"font-weight: 400;\">Chokepoint disruptions and higher operational costs have led to increased freight rates, impacting inflation and economic growth, especially for <\/span><b>Small Island Developing States (SIDS)<\/b><span style=\"font-weight: 400;\"> and<\/span><b> Least Developed Countries (LDCs).<\/b><\/li>\n<li><b>Implications: <\/b><span style=\"font-weight: 400;\">Rising freight rates lead to higher consumer prices and economic strain on vulnerable economies that rely heavily on maritime imports.<\/span><\/li>\n<li><b>UNCTAD Recommendations: <\/b><span style=\"font-weight: 400;\">Strengthen freight market monitoring to address rising costs and support SIDS and LDCs with more resilient supply chains to stabilize their economies and ensure food security.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h4><span style=\"font-size: 15pt;\"><b>Urgent Need for Low-Carbon Shipping<\/b><\/span><\/h4>\n<ul>\n<li><b>Insight: <\/b><span style=\"font-weight: 400;\">The shift to low-carbon shipping is slow, with high costs and fuel technology uncertainties hindering fleet renewal.<\/span><\/li>\n<li><b>Implications: <\/b><span style=\"font-weight: 400;\">Shipping accounts for 3% of global emissions, yet only 50% of new ships are equipped for alternative fuels. Older vessels remain active, delaying decarbonization efforts.<\/span><\/li>\n<li><b>UNCTAD Recommendations: <\/b><span style=\"font-weight: 400;\">Boost investment in clean fuel technologies and fleet renewal through incentives and clear regulatory frameworks. Collaboration between governments and industry is crucial to accelerating decarbonization and meeting climate targets.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h4><span style=\"font-size: 15pt;\"><b>Improving Port Performance and Trade Facilitation<\/b><\/span><\/h4>\n<ul>\n<li><b>Insight:<\/b><span style=\"font-weight: 400;\"> Enhancing port operations and trade facilitation is critical to the resilience and efficiency of global maritime trade.<\/span><\/li>\n<li><b>Implications: <\/b><span style=\"font-weight: 400;\">Ports are under pressure from climate risks and increasing cargo volumes.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Advanced technologies like blockchain and AI can streamline operations, reduce congestion, and support efficient cargo tracking.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>UNCTAD Recommendations: <\/b><span style=\"font-weight: 400;\">Prioritize digital innovation and infrastructure upgrades to create &#8220;smart ports&#8221; capable of handling complex global shipping needs.\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Developing climate-proof port infrastructure and fostering public-private partnerships are essential for long-term resilience.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6975%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\">\n<h3><span style=\"font-size: 16pt;\"><b>Role of Maritime Transport in Indian Economy<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Maritime transport is very significant to India&#8217;s economic growth, It contributes significantly to trade, employment, and infrastructure development.<\/span><\/p>\n<ul>\n<li><b>Contribution to Trade<\/b>\n<ul>\n<li><b>Trade Volume and Value:<\/b><span style=\"font-weight: 400;\"> Maritime transport handles around 95% of India\u2019s trade by volume and 70% by value.<\/span><\/li>\n<li><b>Ports:<\/b><span style=\"font-weight: 400;\"> India has 12 major ports and approximately 200 non-major ports, facilitating both domestic and international trade.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Challenges and Opportunities<\/b>\n<ul>\n<li><b>Challenges:<\/b><span style=\"font-weight: 400;\"> Issues like geopolitical tensions, climate change, and supply chain disruptions create challenges for maritime transport.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Opportunities:<\/b><span style=\"font-weight: 400;\"> Investments in sustainable infrastructure, decarbonization, and stronger international cooperation could enhance the sector\u2019s resilience and efficiency.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 100.043%;\">\n<tbody>\n<tr>\n<td style=\"width: 130.811%; 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