Ever Given And Fragility Of Shipping Routes Post 2020

Shipping is directly driven by global economic growth and the need to carry goods internationally. Global economic growth directly influences international trade which in turn directly affects shipping and growth in seabourne trade volumes (which directly measures demand for shipping, port and logistics services). Shipping is the most commonly used mode of transport in international trade, carrying some 85 per cent of the total transport volume¹.

On 1 January 2020, the Shipping Industry and Traders were adapting to the onset of IMO 2020 with the low sulphur fuel regime for Ships, consequences of Trump's Trade War with China and the lingering effects of the crash in Oil Prices, each causing different effects. The Beirut Port explosion and disaster also highlighted the lurking danger of shipping and storage of dangerous goods².