eFAL: Regulatory focus shift during geopolitical uncertainties

eFAL: Regulatory focus shift during geopolitical uncertainties


In 2023, global maritime trade volumes reached 12,292 million tons, marking a 2.4 per cent increase after a contraction in 2022, with ton-miles growing by 4.2 per cent due to longer shipping routes caused by geopolitical disruptions.

During geopolitical uncertainties such as trade wars, embargoes, and regional conflicts traditional paper-based systems falter under pressure. Globally, nations are rerouting trade routes and bracing up for a potential tariff war that could be reshape sanctions, and regional conflicts. This looming uncertainty seeks support from trade bodies to stay afloat in business and protect their interests.