Development of international seaborne trade, selected years

Abstract

This chapter provides an overview of the demand for global maritime transport services as well as a review and forecast of developments in world seaborne trade, against the background of the world economy and global trade. In 2007, the world economy and global merchandise exports grew at a firm rate, albeit more moderately than the previous year. Dynamic emerging developing and transition economies continued to set the pace. Driven by economic and trade growth, firm demand for maritime transport has lead to further growth in seaborne trade. However, rising oil prices due to supply-side constraints and increasing oil demand, the continuing repercussions of the global credit crunch, together with concerns about security and the environment impose a great challenge for maritime seaborne trade and transport in 2008.