Page 18 - STAT July 2024 for Magzter

specialreport

Turkish Straits

Strait of Suez Canal
Gibraltar

Bab el-Mandeb

Strait of Hormuz

Cape of Good Hope

HOW DO MARITIME ccording to the United Nations,
80% of global merchandise is
transported by sea. However, a
BLOCKAGES FUEL ABoston Consulting Group (BCG)
study revealed that more than half of
SHIFT TO of disruption in four critical areas: the Suez
international maritime trade faces the risk

Canal, the Strait of Hormuz, the Straits
of Malacca and Taiwan, and the Panama
AIR FREIGHT Canal. These areas and a few others are
known as global maritime chokepoints.
While the conflict in the Red Sea has
gained recent attention, all these maritime
SOLUTIONS? passageways have the potential to be-
come chokepoints due to geopolitical or
environmental factors. Before we explore
how these chokepoints impact global
trade, ocean freight, and air freight, let's
Disruptions in maritime chokepoints boost air cargo better understand them.
demand due to increased delays, congestion, and
rising sea freight costs. What are these maritime
chokepoints?
Rajarshi Chatterjee Maritime chokepoints are narrow pas-
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