Introduction to drug smuggling
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Demand
We estimate that crude tanker demand will increase by 6.5-7.5% in 2024 and 2-3% in 2025. Cargo growth is forecast to be 2-3% in 2024 and 1-2% in 2024. Increased sailing distances due to the Red Sea crisis are expected to lift demand in the first half of 2024, whereas the continued shift of crude sup... Please follow the link to continue reading.
Macro environment
Global economic growth is estimated to have been 3.1% in 2023. The International Monetary Fund (IMF) projects that growth in 2024 and 2025 will end up at 3.1% and 3.2% respectively. The IMF forecasts slower growth for both 2024 and 2025 in the US, China, Japan and India compared to 2023. On the oth... Please follow the link to continue reading.
Sustainability and women in shipping highlighted at IOPC meeting
At the most recent International Oil Pollution Compensation (IOPC) Funds meeting in London, Ban Ki-moon, former United Nations Secretary-General, spoke to representatives, IMO staff and the Funds’ Secretariat about the value of shipping to international trade, climate change and encouraging and empo... Please follow the link to continue reading.
Korea, Republic of - Freight tax
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Dry cargo market report
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Macro environment
Houthi attacks on ships in the Red Sea continue and many shipowners therefore continue to avoid the area. As no resolution to the conflict is in sight, we assume that the attacks may impact shipping throughout 2024 and that ships may be able to return to normal routings in 2025. According to the In... Please follow the link to continue reading.
Gulf of Guinea states must act and prosecute suspected pirates
States in the Gulf of Guinea region must take responsibility and step-up prosecution efforts when pirates are apprehended by international navies, following the release of three suspected pirates held in custody on board Danish frigate Esbern Snare.
Australia - Freight tax
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Dry cargo market report dated 24 November 2023
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