The entire shipping industry must invest urgently in sustainability if it is to withstand future shocks and help prevent another global cost-of-living crisis linked to supply chain disruption, UN trade and development experts UNCTAD said. Ships carry over 80 per cent of the goods traded globally, with the percentage even higher for most developing countries; hence the urgent need to boost resilience to shocks that disrupt supply chains, fuel inflation and affect the poorest the most, the UN agency said in a new report on maritime transport. Between 2020 and 2021, UNCTAD also noted that carbon emissions from the world’s maritime fleet increased by almost five per cent. At the same time, data indicated that the average age of the ships in service has increased, to almost 22 years.
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