The Consultative Shipping Group, a coalition bringing together maritime authorities from 18 nations including Germany, Canada, Japan and the United Kingdom, warned on Tuesday about the emergence of parallel systems threatening global maritime trade. Over 80% of global trade being transported by sea, the group warns that the fragmentation of trade rules is exacerbating disruptions caused by events such as the Covid-19 pandemic, the conflict in Ukraine, drought at the Panama Canal and fighting around the Strait of Hormuz. The institution highlights the emergence of a shadow fleet of several hundred ships operating outside standard insurance, safety and transparency frameworks, creating a two-tier system. This situation risks leading to higher costs for businesses and consumers, as well as a weakening of global supply chains.
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