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United Nations Conference on Trade and Development UNCTAD has released its Review of Maritime Transport 2023, highlighting key facts and figures related to maritime trade in Asia.
For the past decade, global supply chn reconfiguration trs have been evident worldwide. In particular, China and other Asian countries are experiencing noticeable changes impacting their maritime trade dynamics. Intraregional shipping routes account for a substantial portion - approximately 27.6 - of total global trade volumes by 2022, largely due to the robust East Asian manufacturing supply chn with China at its core.
Intra-Asian shipping routes have shown the highest growth rates from 2021 to 2022. This tr aligns with global manufacturing patterns where China serves as the global manufacturing hub supported by neighboring East Asian countries supplying components and parts.
The China Plus One strategy, med at diversifying supply chns, is reshaping trade dynamics in Asia. In response to increased demand for reliability and resiliency, companies are seeking to reduce depence on single sources of supply.
In terms of CO2 emissions from shipping, vessels controlled by owners in China, Japan, and Greece lead globally, while the Chinese flag saw rapid growth at 5.4 in 2022.
The Liner Shipping Connectivity Index LSCI, which measures global liner shipping networks, shows that Asian countries dominated this ranking with China leading followed by South Korea, Singapore, Malaysia and Vietnam.
In cargo handling performance, Asia continued to lead globally according to the Contner Port Performance Index CPPI. In 2022, 18 out of the top 25 ports worldwide were in Asia, including seven from Eastern Asia and four from Western Asia.
The Port of Yangshan in China became the global leader with improvements in trans-shipment operations, automation, and border agency-logistics interoperability through digital innovations.
In summary, this Review showcases that despite challenges, maritime trade continues to thrive and evolve across Asian nations through strategic advancements and innovative technologies designed for inclusive and sustnable development.
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Maritime Trade Dynamics in Asia Chinas Role in East Asian Supply Chain Intra Asian Shipping Route Growth Reshaping Trade with China Plus One CO2 Emissions from Chinese Vessels Asian Dominance in Liner Shipping Networks