THE VOLUME OF GLOBAL MARITIME TRADE IN 2021 IS EXPECTED TO EXCEED 2019

Recently, Clarkson Research Services said that although major uncertainties still exist, it is expected that the global maritime trade volume in 2021 is expected to return to and exceed the level of 2019.

 

 

Clarkson predicts that the volume of seaborne trade this year will reach 12 billion tons, which is 0.5% higher than the level in 2019 and an increase of 4.2%. In its latest weekly report, Clarkson stated that in 2020, the global seaborne trade volume fell 3.6% for the whole year to 11.5 billion tons.

 

In the first few weeks of 2021, most non-tank shipping sectors reported high utilization rates and strong freight rates or rents. The International Monetary Fund (IMF) predicts that the global economy will grow by 5.5% this year, and after a 3.5% drop last year, the size of the economy in 2021 will increase by 1.8% over 2019.

 

Looking at emerging economies and advanced economies separately, the IMF predicts that emerging economies will grow by 6.3%, while advanced economies are expected to grow by 4.3%, which is lower than the 4.9% decline in 2020.

 

A report by BIMCO at the end of last month showed that the economic recovery in 2021 will not bring good news to everyone. The specific economic recovery speed will depend on the development of the epidemic and changes in travel restrictions.

 

"As the global economy moves toward the next normal, some positive factors for shipping in the epidemic year will gradually disappear as commodity spending drops and consumer spending on services and travel increases. In addition, the government's stimulus plan will be limited. Yes, this will inevitably slow down the pace of recovery." BIMCO said last month.

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