shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » International Trade Hit by Global Financial Crisis, Says UN Body

International Trade Hit by Global Financial Crisis, Says UN Body

by Ade
November 10, 2008
in Uncategorized

Review of Maritime Transport suggests early 2008 marked the high point of the shipping boom but a decline in the Baltic Dry Index indicates that the financial crisis has spread to international trade, with negative implications for developing countries, especially those dependent on commodities
UNCTAD -International seaborne trade in 2007, driven by emerging and transition economies, surpassed a record 8 billion tons, the Review of Maritime Transport 2008 (RMT) reports. Strong demand for shipping services helped push to unprecedented highs the cost of moving dry bulk commodities internationally, as echoed by the Baltic Dry Index (BDI) through the first quarter of 2008. (The BDI is a composite of shipping prices for various dry bulk products such as iron ore, grain, coal, bauxite/alumina and phosphate, and is a useful indicator of price movements.)
More recently, however, the BDI has declined more than 11-fold: from 11,793 points in May 2008 to 891 as of early November. This shows that the unfolding financial crisis has spread to international trade with negative implications for developing countries, especially those dependent on commodities.
More than 80% of international trade in goods is carried by sea, and an even higher percentage of developing-country trade is carried in ships.
The Review, an annual publication prepared by the UNCTAD secretariat, is an important source of information on this vital sector. It closely monitors developments affecting world seaborne trade, freight markets and rates, ports, surface transport, and logistics services, as well as trends in ship ownership and control and fleet age, tonnage supply, and productivity.
The Review contains a chapter on legal and regulatory developments and each year includes a chapter highlighting a different region. In 2008, the focus is on Latin America and the Caribbean.


Related Posts

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

VESSELS EXPECTED AT LAGOS PORT AS AT FRIDAY 29, APRIL 2022

April 29, 2022

‘Why I Pay More Attention To Rail Than Maritime Sector’- Rotimi Amaechi

September 27, 2021
ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

ANLCA President Calls For Emergency On Reconstruction Of Roads Leading Into Apapa

May 15, 2021

Discussion about this post

Latest News

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

Amidst Allegation of Fake Certificates in Circulation, NIMASA CoC Verification Portal Breaks down

May 16, 2022

Over 3000 Ex-Cadets Of MAN Oron With National Diploma Certificates Stranded, Unable To Further Their Studies

Despite LASG Suspension, Truckers Say Committee On Removal Of Abandoned Vehicles Still Operating Illegally

ANLCA Sues For Peace, Calls For Retreat To Reunite Association, Resolve Challenges

NPA To Concession Barge Operations, To Clampdown On Illegal Barge Owners

Automation Backbone Of Port Efficiency – NPA MD

High Cost Of AGO, Freight Rate Responsible For Fuel Scarcity In Abuja — Distributors

We’ve Paid Over N58b Bridging Claims To Oil Marketers – NMDPRA

Nigeria’s April Oil Output Drops 13.3 Percent to 1.3 Mbpd

FG Working To Improve West African Gas Pipeline Project Performance – Sylva

“Global West Vessel Specialist is not owned by Tompolo”

The Monster Of Extortion And Failure Of Traffic Control System In Apapa

kindly like our Facebook page

Health

What You Need To Know About Monkeypox
Health

What You Need To Know About Monkeypox

May 16, 2022

According to the latest Monkeypox situation report of the Nigeria Centre for Disease Control, Nigeria recorded 15 confirmed cases of...

Sleep Duration Of 7 Hours Optimal For Elderly – Study

Sleep Duration Of 7 Hours Optimal For Elderly – Study

May 16, 2022
COVID-19 On Increase In Americas, Africa – WHO

COVID-19 On Increase In Americas, Africa – WHO

May 9, 2022
‘65 Per Cent Of Africa’s Population Survived COVID-19’

‘65 Per Cent Of Africa’s Population Survived COVID-19’

May 9, 2022
Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

Seven Hours Of Sleep Ideal For Middle-Aged Persons – Study

May 9, 2022
Some Things That Are Actually Damaging The Kidneys (2)

Some Things That Are Actually Damaging The Kidneys (2)

May 9, 2022

The World Of Vaccines, Before And After COVID

April 29, 2022
Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

Only 29% Of Hospitalised COVID-19 Patients Make Full Recovery One Year On – Study

April 29, 2022
WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

WHO Alerts Countries To Increase In Hepatitis Cases Of Unknown Origin

April 29, 2022
Some Things That Are Actually Damaging The Kidneys

Some Things That Are Actually Damaging The Kidneys

April 29, 2022
Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

Nigeria Records Continuous Decrease In COVID-19 Cases, Deaths – NCDC

April 25, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition

No, thank you. I do not want.
100% secure your website.
Powered by EssentialPlugin