Bright Spots and Challenges in Africa's Maritime Sector: UNCTAD Review
Key Ideas
- Record-breaking increases in port calls and tanker calls in Africa noted between 2018 and 2023.
- African nations like Liberia, Cameroon, and Nigeria showcased significant growth in vessel registration and deadweight tonnage.
- Africa is exploring green hydrogen energy sources with several countries identified as potential hubs for production and distribution.
- Recommendations include addressing disruptions at maritime chokepoints, investing in green shipping, and enhancing port efficiency.
The latest Review of Maritime Transport by UNCTAD highlights positive developments and challenges in Africa's shipping sector. Between 2018 and 2023, Africa saw significant growth in port calls by container ships and tanker calls, with record-breaking increases. Notably, Liberia became the world's largest ship register by deadweight tonnage in 2022, surpassing Panama. The report also mentions the impact of attacks in the Red Sea, leading vessels to reroute around the Cape of Good Hope and affecting African ports. However, the transition to renewable energy sources, particularly green hydrogen, presents opportunities for Africa, with several countries identified as potential hubs for production and distribution. Africa is also focusing on enhancing resilience in the face of geopolitical uncertainties and climate risks, with initiatives like strengthening maritime security and port reforms. The report warns of vulnerabilities at key maritime routes, stressing the importance of addressing disruptions, investing in green shipping, and enhancing port efficiency. It also emphasizes monitoring freight market developments and supporting vulnerable economies amidst challenges in the industry.
Topics
Africa
Renewable Energy
Maritime Trade
Global Supply Chains
Maritime Security
Shipping Sector
Trade Connectivity
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