November 18, 2021
- Grynspan (UNCTAD): the current increase in no-use will have a
deep impact on trade and will undermine recovery
- By 2023 it is expected a growth of +11% of the level
of world import prices and an increase of +1.5% of
consumer price levels. The resumption of the
- UNCTAD points out that the high value of sea freight is
curbing the post-Covid economic recovery and warns that the next
year consumer prices will increase significantly and up to
when the dysfunctions of the sypply chain of the
maritime transport and the problems of
port congestion and terminal inefficiencies.
- In the latest report "Review of Maritime Transport 2021"
published today by the United Nations Conference on Trade and
Development specifies that the recovery of the world economy is
threatened by high maritime transport tariffs, which -
specifies the document - will continue to be high even in the
coming months. In particular, the analysis shows that if the current
increase in freight for containerised maritime transport will be
maintained, this by 2023 could lead to a
+11% growth in the price level of world imports
and an increase of +1.5% in consumer price levels.
- UNCTAD also considers that the considerable increase in costs
of maritime shipments will not only affect the
exports and imports, but it could also undermine the recovery
of the global manufacturing sector. The report highlights that the
High value of customs is already having an impact on
global supply chain: Europe, for example - notes UNCTAD - has
had to cope with shortages of consumer goods imported from Asia,
such as furniture, bicycles, sporting goods and toys. According to the
report, the increase in freight of containerized shipping
will cause an increase in production costs, ending up
raising consumer prices and slowing down economies,
especially those of small island developing states, and
of the least developed countries where consumption and production depend on
much of it from trade.
- In addition, the impact of the high value of sea freight does not
will be distributed evenly and also within the
Europe itself will generally be greater among the more
Small. In particular, prices are expected to rise by
+3.7% in Estonia and +3.9% in Lithuania compared to +1.2% in
United States and +1.4% in China.
- The report specifies that, however, to make the expenses
of the exponential increase in the number of no-ies will also be the producers
U.S. who rely primarily on supplies
industrialists of China and other East Asian economies, with
resulting in continued cost pressures, interruptions and delays
of container shipments that will hinder production. Yes
foresees, in fact, that an increase of + 10% of transport freight
containerized maritime, along with the occurrence of interruptions
of the supply chain, will reduce industrial production in the US and
in the euro area by more than -1%, while in China production
should decrease by -0.2%.
- Commenting on the results of the UNCTAD analysis, Rebeca
Grynspan, Secretary-General of the UN body, went
straight to the point: "the current increase in no-road transport - he underlined
- will have a profound impact on trade and undermine the
socio-economic recovery, especially in developing countries,
until maritime transport operations return
to normality. Returning to normal - clarified
Grynspan - would entail the need to invest in new
solutions, including infrastructure, transport technologies
of goods, digitalisation and measures to facilitate trade'.
- UNCTAD does not propose specific recipes to solve the
situation, limiting itself to urging governments to monitor markets
to ensure fair, transparent and competitive trade,
recommending that more data be shared and that the
collaboration between the parts of the maritime supply chain. Invites
in addition, nations to consider a number of measures
covering both tangible and tangible infrastructures
intangible, including improving the quality of
port infrastructure that would reduce the total average costs of
transport of -4.1%, the adoption of measures to facilitate
trades that would reduce costs by -3.7% and the improvement of the
connectivity of liner maritime transport that
would decrease costs by -4.4%.
- About the exorbitant increase in maritime freight, the
of the United Nations body observes that "in the face of
these cost pressures and the lasting disruptions of the
market, it is increasingly important to monitor the
market behaviour and ensuring the transparency of customs,
taxes and soprannoli'.
- The publication "Review of Maritime Transport 2021"
also focuses on the direct impact that the Covid-19 pandemic
had on maritime transport, noting that in 2020 such
the effect was less severe than initially expected,
but specifying that the side effects will be far-reaching
and could lead to a transformation of maritime transport.
The document explains that, initially, last year trade for
by sea they were reduced by -3.8%, while subsequently
have resumed and are currently scheduled for 2021 their
increase of +4.3%. In the report, UNCTAD specifies that, however, the
pandemic has highlighted and amplified the existing problems in the
maritime sector, in particular labour shortages and
infrastructural needs. In particular, it is manifested
concern about the crisis of the change of crews of ships
caused by the health crisis.
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