聯(lián)合國(guó)貿(mào)易發(fā)展委員會(huì)-2023年海運(yùn)回顧（綜述）-英

UNITEDNATIONS

CONFERENCEONTRADEANDDEVELOPMENTOVERVIEWREVIEWOFMARITIMETRANSPORT2023Towards

agreenandjusttransitionUNITEDNATIONS

CONFERENCEONTRADEANDDEVELOPMENTREVIEWOFMARITIMETRANSPORT2023OVERVIEWGeneva,

2023?2023,UnitedNationsThisworkisavailablethroughopenaccess,bycomplyingwiththeCreativeCommonslicencecreatedforintergovernmentalorganizations,at/licenses/by/3.0/igo/.ThedesignationsemployedandthepresentationofmaterialonanymapinthisworkdonotimplytheexpressionofanyopinionwhatsoeveronthepartoftheUnitedNationsconcerningthelegalstatusofanycountry,

territory,

cityorareaorofitsauthorities,orconcerningthedelimitationofitsfrontiersorboundaries.Mentionofany?rmorlicensedprocessdoesnotimplytheendorsementoftheUnitedNations.Photocopiesandreproductionsofexcerptsareallowedwithpropercredits.Thispublicationhasbeeneditedexternally.UnitedNationspublicationissuedbytheUnitedNationsConferenceonTrade

andDevelopmentUNCTAD/RMT/2023(Overview)andCorr.

12REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWSeabornetradedeclinedby

0.4percentin2022,growthresumesin2023Shipping

continues

to

navigate

COVID-19

post-pandemic

trends,

thelegaciesofthe2021–2022crunchinglobalsupplychains,asofteninginthecontainershippingmarketandshiftsinshippingandtradingpatternsarisingfromthewarinUkraine.Global

shipping

continues

to

confront

multiple

challenges,

includingheightened

trade

policy

and

geopolitical

tensions

and

is

dealing

withchanges

in

globalization

patterns.

Additionally,

shipping

must

transition

toa

more

sustainable

future,

decarbonize

and

embrace

digitalization.

Beingat

the

intersection

of

these

forces

will

in?uence

how

the

sector

adaptsto

the

evolving

operational

and

regulatory

landscape

while

continuing

toeffectivelyserviceglobaltrade.Maritime

trade

volume

contracted

marginally

by

0.4

per

cent

in

2022,

butUNCTAD

projects

it

will

grow

by

2.4

per

cent

in

2023.

Indeed,

the

industryremainsresilientandUNCTADexpectscontinuedbutmoderatedgrowthinmaritimetradevolume(table1)forthemediumterm(2024–2028).Global

shipping

is

also

facing

concurrent

forces

that

make

balancingsupply

and

demand

a

challenging

task

for

carriers.

During

2022,containerized

trade,

measured

in

metric

tons,

declined

by

3.7

per

cent.UNCTAD

projects

it

will

increase

by

1.2

per

cent

in

2023

and

expandby

over

3

per

cent

during

the

2024–2028

period,

although

this

rate

isbelow

the

long-term

growth

of

about

7

per

cent

over

the

previous

threedecades.

On

the

supply

side,

container

shipping

may

have

entered

anovercapacity

phase,

meaning

that

carriers

will

aim

at

managing

capacityusingtoolssuchasslippage,idlingofvesselsordemolition.3REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWTable1Seaborne

trade

forecast,

2024–2028(Annual

percentage

change)Year20242025202620272028TotalseabornetradeContainerizedtrade2.12.22.22.12.13.23.23.23.02.9Source:

UNCTAD

secretariatcalculations,July2023.Note:UNCTAD

projections

are

based

on

the

estimated

elasticities

of

maritime

tradewith

respect

to

gross

domestic

product

(GDP),

export

volumes,

investmentshare

in

GDP

as

well

as

monthly

seaborne

trade

data

published

by

ClarksonsResearch.

They

also

build

on

the

GDP

forecast

published

in

the

InternationalMonetaryFund,WorldEconomicOutlook,July2023.Undoubtedly,

the

key

challenge

for

the

sector

is

that

the

maritime

industrymust

embark

on

a

transformativejourneytowards

decarbonization

whilesustaining

economic

growth.

Balancing

environmental

sustainability,regulatory

compliance

and

economic

demands

is

vital

for

a

prosperous,equitableandresilientmaritimetransportfuture.Despite

uncertainties

surrounding

future

decarbonization

measures,including

their

impact

on

logistics

costs

and

trade,

the

sector

shouldremaincommittedto?eetmodernization,renewalofageingvesselcapacityand

adopting

low-carbon

pathways.

Amidst

regulatory,

commercial

andsustainabilitypressures,meetingcarbonemissiontargetsisaformidableyet

positive

challenge.

Developing

regions,

including

small

islanddeveloping

States

(SIDS)

and

least

developed

countries

(LDCs),

may

facehigher

impacts

due

to

a

limited

capacity

to

mitigate

higher

logistics

costs.Starting

in

early

2022,

seaborne

trade,

in

particular

dry

bulk

and

tankershipments,

has

been

impacted

by

the

war

in

Ukraine.

The

war

led

tochanges

in

shipping

patterns

and

increased

the

distances

travelled

forcommodities,

especially

oil

and

grain.

Growth

in

ton-miles

exceedsgrowthintonsin2022,2023andfor2024projections(?gure1).4REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWFigure

1

Seaborne

trade

growth,

tons

and

ton-miles,

2000

–

2024(Annual

percentage

change)1086420-2-4-6TonsTon-milesSource:

UNCTAD

secretariat,

based

on

Clarksons

Research,

Shipping

IntelligenceNetworktimeseries(asofJuly2023).Note:2023dataareestimatedand2024areforecasts.In

2022,

oil

and

gas

trade

volumes

witnessed

robust

annual

growthrates,

of

6

per

cent

and

4.6

per

cent,

respectively.

The

increase

can

beattributed

to

heightened

demand

for

fuel

as

the

pandemic

eased

andrelated

restrictions

were

lifted.

As

spending

on

energy-intensive

serviceslike

transport

and

travel

gradually

recovered,

a

return

to

normalcycontributed

to

the

surge

in

oil

demand.

In

contrast,

containerized

and

drybulk

shipments

declined

in

2022.

Weakened

containerized

trade

re?ectsthe

slowdown

in

global

economic

growth,

high

in?ation

and

normalizingofdemandaftertheunusualsurgeduringtheCOVID-19pandemic.Port

calls

follow

these

trends

in

trade,

dropping

signi?cantly

at

the

startof

the

COVID-19

pandemic

(?gure

2).

Following

a

year-to-year

drop

in

the?rst

half

of

2022,

vessel

port

calls

increased

in

the

second

half

of

2022.Port

calls

by

tankers

reached

historical

highs

while

calls

by

bulk

carriersreturned

to

their

pre-COVID-19

levels;

port

calls

by

container

ships

areyettoreturntotheir2019level.5REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWFigure

2

Number

of

port

callsper

half

year,

world

total,

2018–2022300000280000Liquidbulk260000240000220000200000180000160000140000120000100000carriersContainershipsDrybulkcarriersS1

S2

S1

S2

S1

S2

S1

S2

S1

S22018

2018

2019

2019

2020

2020

2021

2021

2022

2022Source:

UNCTAD,basedondataprovidedbyMarineTraf?c,2023.Notes:

Ships

of

1,000

gross

tons

(GT)

and

above.

S1

and

S2

refer

to

?rst

and

secondsemesters.ExpandingdistancesforoilandgraincargoIn

2023,

oil

cargo

distances

reached

long-term

highs

(?gure

3),

drivenby

disruptions

from

the

war

in

Ukraine.

Crude

oil

and

re?ned

productstravelledlongerdistances,astheRussianFederationsoughtnewexportmarketsforitscargoandEuropelookedforalternativeenergysuppliers.Shipments

of

grains

travelled

longer

distances

in

2023

than

any

other

yearon

record

(?gure

3).

Although

grain

shipments

from

Ukraine

resumed

in2022thankstotheBlackSeaInitiative,severalgrain-importingcountrieshad

to

rely

on

alternative

grain

exporters.

They

are

instead

buying

fromtheUnitedStatesofAmerica,orBrazil,whichrequireslongerhauls.6REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWContainerized

trade

distances

have

tumbled

since

2020

but

increasedmarginally

in

2023

(?gure

3).

Intra-Asian

containerized

trade,

whichaccounts

for

the

majority

of

intraregional

trade,

saw

its

share

increaseover

the

years.

As

intra-Asian

trade

is

carried

over

shorter

distances,the

average

distances

travelled

per

ton

of

container

cargo

of

globalcontainerized

trade

are

relatively

low.

The

predominance

of

intra-Asian

containerized

trade

?ows

re?ects

global

manufacturing

patternswith

China

continuing

to

serve

as

the

leader

in

global

manufacturing,supported

by

neighbouring

East

Asian

countries.

It

also

re?ects

thegrowing

participation

of

several

East

Asian

countries

in

regional

andglobalvaluechains.Figure

3

Average

distance

travelled,

grain,

other

dry

bulk,container

and

oil

cargo,

1999–2024(Nautical

miles)7500Grain700065006000Drybulk(excludinggrain)55005000450040003500ContainerOilSource:

UNCTAD

secretariat

calculations,

based

on

Clarksons

Research,

ShippingIntelligenceNetworktimeseries(asof8June2023).Abbreviations:(e)estimated,(f)forecast.7REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWContainershippingconnectivityremainsbelow

pre-COVID-19levels

insmallislanddevelopingStatesIn

the

second

quarter

of

2023,

the

most-connected

economies

asmeasured

by

the

Liner

Shipping

Connectivity

Index

(LSCI)

were

China,followed

by

the

Republic

of

Korea,

Singapore,

Malaysia

and

the

UnitedStates.

In

Europe,

Spain,

the

Kingdom

of

the

Netherlands

and

Belgium,saw

their

LSCI

increase

over

this

period,

while

the

United

Kingdom

ofGreatBritainandNorthernIrelandsawitsLSCIdeclineslightly.MostregionsrecoveredintermsofCOVID-19pandemicdisruptionsandshipping

connectivity.

By

the

second

quarter

of

2023,

regional

averagesfor

the

LSCI

in

Asia,

Latin

America

and

the

Caribbean

and

Oceaniareached

record

highs.

Meanwhile,

the

average

LSCI

for

Africa

alsoincreased,

but

remained

below

its

pre-pandemic

values.

North

Americaand

Europe

both

saw

their

average

LSCI

drop

in

2022,

only

recording

arecoveryinthesecondquarterof2023.Regional

variations

re?ect

the

demand

and

supply

dynamics

during

andafter

the

pandemic.

Asia

increased

its

container

trade

activity,

includingintraregional

traf?c.

Europe

and

North

America

initially

experienced

asurge

in

demand

and

?eet

deployment

which

subsided

as

the

marketstabilized.

In

contrast,

Africa

found

itself

in

a

middle

ground,

without

apost-COVID-19boomnorasubsequentweakening.SIDS

showed

initial

signs

of

recovery

in

their

LSCI

but

have

not

yetreturned

to

pre-pandemic

levels.

During

the

pandemic,

SIDS

in

the

IndianOcean,

Africa

and

the

Caribbean

experienced

a

decline

in

LSCI.

Thiswas

attributed

to

ships

being

redeployed

to

more

lucrative

European

andNorth

American

import

markets,

as

well

as

reduced

demand

in

tourism-dependentislandeconomies.In

2023,

SIDS

serving

as

regional

trans-shipment

centres,

such

asJamaica

and

the

Dominican

Republic,

resumed

their

long-term

growthtrajectory

in

connectivity,

building

on

their

trans-shipment

business.However,

other

SIDS

serving

as

regional

hubs,

notably

Bahamas

andMauritius,haveyettofullyrecoverfromtheimpactofthepandemic.8REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWAslowgrowing?eet,ageingshipsandthechallengesaheadAs

of

January

2023,

the

world

?eet

consisted

of

105,493

vessels

of

100gross

tons

and

above.

In

2022,

capacity

expanded

at

an

annual

rate

of

3.2per

cent

with

overall

tonnage

hitting

2.27

billion

deadweight

tons

(?gure

4).Figure

4

The

world

?eet,

1980–2023(Thousand

deadweight

tonnage

and

annual

percentage

change)240000022000002000000180000016000001400000120000010000008000006000004000002000000121086420-2-4-6-8-10-12DeadweighttonsPercentagechangeSource:

UNCTAD

calculations,basedondatafromClarksonsResearch,2023.Notes:

Propelled

seagoing

merchant

vessels

of

100

GT

and

above,

as

of

1

January2023.Deadweighttonsforsomeindividualvesselshavebeenestimated.9REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWThe

container

?eet

capacity

saw

an

increase

of

3.9

per

cent,

followedby

oil

tanker

?eet

growth

(3.4

per

cent).

Meanwhile,

bulk

carrier

capacitygrew

at

a

moderated

rate

of

2.8

per

cent

and

gas

carriers

experiencedthehighestgrowth,at5percent.In

terms

of

tonnage

delivered

in

2022,

dry

bulk

carriers

took

the

lead,followed

by

oil

tankers

and

container

vessels.

China,

the

Republic

ofKorea

and

Japan

were

the

top

shipbuilding

countries,

accounting

for

asigni?cant93percentoftotaltonnagedelivered.Over

the

years,

global

?eet

capacity

expansion

has

seen

its

ups

anddowns,

re?ecting

business

cycles

and

trends

in

shipping,

shipbuildingand

?nancing.

Between

2005

and

2010,

the

average

annual

growthof

global

deadweight

tonnage

was

robust,

at

7.1

per

cent.

However,since

the

2007–2008

?nancial

crisis,

growth

has

slowed

to

an

averageof

4.9

per

cent

between

2011

and

2023

due,

among

other

factors,

toconsolidation

in

shipbuilding

and

downsizing

of

the

ship

?nancing

market.Since

the

pandemic,

?eet

growth

has

further

slowed,

averaging

3.1

percentperyear.The

global

?eet

is

also

ageing.

At

the

start

of

2023,

commercial

shipshad

an

average

age

of

22.2

years,

slightly

higher

than

the

previous

year.Compared

to

a

decade

ago,

the

global

?eet

has

aged

by

an

average

oftwoyears,withoverhalfofthe?eetnowexceeding15yearsofage.Containerfreightrates

returningtopre-pandemiclevelsContainer

freight

rates

were

a

tale

of

two

halves

in

2022.

Spot

containerfreight

rates

soared

to

record

levels

by

early

2022,

re?ecting

thepandemic-related

rebound

and

global

supply

chain

crisis.

Rates

declinedin

the

second

half

of

2022

across

most

major

trade

lanes

and

stabilizedin

early

2023.

The

Shanghai

Containerized

Freight

Index,

a

measure

forspot

container

freight

rates

from

China,

plunged

by

more

than

80

percent

to

967

points

in

June

2023,

down

from

its

peak

of

5,067

points

inJanuary

2022

which

was

?ve

times

higher

than

its

level

before

COVID-19in

January

2019

(?gure

5).

Container

carriers

achieved

unprecedented10REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWpro?ts

estimated

at

almost

$300

billion

in

earnings

before

interest

andtaxes(EBIT)in2022.In

tandem

with

spot

freight

rates,

charter

rates

also

experienced

a

signi?cantdecrease

in2022,albeit

remaining

higherthanpre-pandemic

levels.Contracted

freight

rates

increased

in

2022,

in

line

with

trends

shaping

thespot

rates

and

re?ecting

factors

including

the

mismatch

in

supply

anddemand

of

ship

capacity,

disruptions

in

the

supply

chain,

port

congestion,cost

pressure

and

trade

imbalances.

Compared

with

2019,

the

highestincrease

in

contract

rates

was

seen

on

routes

originating

from

Asia.Contract

freight

rates

on

the

Asia–South

America

trade

lane

surged

by386

per

cent

in

2022

compared

with

2019.

Trade

imbalances

continue

tohave

a

large

in?uence

on

contracted

freight

rates.

Substantially

increasedtransportcostscausedin?ationarypressuresonthebroadereconomy.As

container

shipping

transitioned

from

the

historical

boom

of

2021,

thesector

entered

a

dif?cult

phase.

The

market

normalized

and

capacity

levelsshifted

with

an

in?ux

of

new

container

ship

capacity

in

2023.

Capacity

isexpected

to

shift

further

as

more

container

vessels

are

expected

to

hit

thewater

in

2024

and

2025.

Liner

operators

areadopting

different

strategiesto

tackle

overcapacity,

including

rerouting,

blank

sailing,

reducing

speedandidlingships.Carriers

are

pursuing

different

strategies

to

build

resilience

and

adaptto

the

evolving

operating

environment.

Some,

such

as

Maersk,

havefavoured

an

integrated

approach,

offering

end-to-end

service

delivery.Others,

such

as

MSC,

have

shown

an

appetite

for

ship

ordering

andcapacityexpansion.11REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWFigure

5

Shanghai

Containerized

Freight

Index,

monthly

spotrates,

June

2018

–

June2023,

selected

routes14000120001000080006000400020000SCFIComprehensivecontainerfreightrateindexSCFIShanghai,China–Mediterranean(baseport)containerfreightrate($/TEU)SCFI

Shanghai,China–EastCoastNorth

America

(baseport)containerfreightrate($/FEU)SCFIShanghai,China–WestAfrica(Lagos,Nigeria)containerfreightrate($/TEU)SCFIShanghai,China–SouthAmerica(Santos,Brazil)containerfreightrate($/TEU)SCFIShanghai,China–Europe(baseport)containerfreightrate($/TEU)SCFIShanghai,China–WestCoastNorthAmerica(baseport)containerfreightrate($/FEU)SCFI

Shanghai,

China–PersianGulf(Dubai,UnitedArab

Emirates)containerfreightrate($/TEU)SCFI

Shanghai,

China–South

Africa

(Durban,

Republic

of

South

Africa)

container

freight

rate

($/TEU)Source:

UNCTAD

secretariat,

based

on

data

from

Clarksons

Shipping

IntelligenceNetwork,2023.Abbreviations:FortyfootEquivalentUnit(FEU),Twenty

footEquivalentUnit(TEU).Meanwhile,

as

the

container

shipping

markets

weakened,

some

of

thenewer

entrants

who

had

been

drawn

by

the

soaring

freight

rates

of

2021–2022,

now

exited

the

markets.

Some

had

to

suspend

operations

or

exitthe

market

altogether.

Others

persevered

and

seized

opportunities

toincrease

their

market

share

in

liner

operations

and

capacity

deployment.12REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWAvolatilelandscapefordry

bulkfreightratesDry

bulk

freight

rates

were

highly

volatile

in

2022

and

2023

due

to

shiftsin

demand,

port

congestion

(namely

in

the

?rst

half

of

2022),

heightenedgeopolitical

tensions,

weather-induced

disruptions

and

macroeconomicheadwinds,includinginChina.The

war

in

Ukraine

reshaped

maritime

trade

?ows,

increasing

cargodistances

and

ton-miles.

The

Baltic

Dry

Index,

which

measures

shippingprices,

?uctuated

signi?cantly,

with

rates

peaking

in

May

2022.

Ratesfell

to

pre-pandemic

levels

by

December

2022.

In

early

2023,

freightratesdeclinedfurther

due

to

aseasonalslowdownand

adverseweatherconditions

disrupting

commodity

production.

A

surge

in

demand

for

drybulk

cargo

in

the

second

quarter

of

2023,

triggered

by

post-pandemicindustrialgrowthinChina,ledtoareboundinfreightratesbymid-year.Tanker

freightrates

seeastrongrevivalThe

tanker

market

witnessed

a

remarkable

recovery

in

2022,

with

boththe

Baltic

Dirty

TankerIndex

and

Baltic

Clean

TankerIndex

reaching

peakannual

values.

The

war

in

Ukraine

has

contributed

to

sustained

rates

andhas

reshaped

oil

trade

patterns.

Oil

and

gas

exports

from

the

RussianFederation

shifted

towards

Asia

as

the

Russian

Federation

looked

foralternative

markets

and

European

countries

sought

new

suppliers

toreplaceenergyimportsfromtheRussianFederation.In

early

2023,

the

tanker

market

continued

to

show

strong

earningsdue

to

ongoing

geopolitical

factors

and

increased

ton-miles.

However,uncertainties

related

to

the

energy

transition

and

compliance

with

newInternational

Maritime

Organization

(IMO)

requirements,

namely

theEnergy

Ef?ciency

Existing

Ship

Index

(EEXI)

and

the

Carbon

IntensityIndicator(CII),maylimiteffectivefuturetankercarryingcapacity.13REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWPortcargo

handlingperformanceimproves

afterworseningduringthepandemicOver

the

years,

there

have

been

gradual

improvements

to

the

length

oftime

ships

spend

in

port.

However,

any

progress

made

was

lost

duringtheCOVID-19pandemic,asallvesselsspentmoretimeinport.In2022,the

median

port

time

of

container

ships

and

liquid

cargo

carriers

remainedstable

compared

to

2021.

In

contrast,

dry

breakbulk

carriers

recorded

a3

per

cent

decrease

while

dry

bulk

carriers

experienced

a

3.4

per

centincrease.

As

pandemic-related

disruptions

eased

in

the

second

half

of2022,shipturnaroundtimesimprovedinmostmarkets.Figure

6

Minutes

per

container

move,

by

range

of

call

size,top

5

countries

by

port

calls43.532.521.510.50<500501–

1001–

1501–

2001–

2501–

3001–

4001–

>60001000

1500

2000

2500

3000

4000

6000Callsize(containersloadedandunloadedduringonevesselcall)China

Malaysia

RepublicofKorea

SingaporeUnitedStatesofAmerica

AverageallcountriesSource:

UNCTAD,

based

on

data

provided

by

S&P

Global

Port

Performance

Program,2023.14REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWCombining

time

in

port

with

container

moves,

?gure

6

presents

portperformanceasmeasuredbyminutespercontainermoveatthecountrylevel.Amongthetop?vecountriesbycontainershipportcalls,Republicof

Korea

was

the

fastest

for

?ve

call

size

categories

whilst

the

UnitedStates

recorded

the

slowest

loading

and

unloading

rates.

Differencesin

port

performances

re?ect

levels

of

port

automation

and

the

type

oftraf?c

handled;

larger

ports

tend

to

use

more

automation

across

cranesand

yards.

In

the

United

States,

most

traf?c

is

from

import

containers,while

the

other

top

four

countries

handle

more

trans-shipment

and

exportcontainers.Disruptionshadnegative

impactsoncongestion,portvolumesandrevenueContainer

ships

tend

to

spend

more

time

in

ports

of

developing

countriesthan

of

developed

countries

(?gure

7).

These

averages

can

be

explained

by

acombination

of

faster

clearance

times,

better

infrastructure

and

higher

labourproductivity.

During

the

COVID-19

pandemic,

however,

waiting

times

surgedmore

in

developed

countries,

even

exceeding

those

of

developing

countriesin

early

2022.

As

demand

for

containerized

goods

went

up,

especially

duringperiods

of

lockdowns

combined

with

economic

stimulus

packages,

portscould

not

cope

with

the

surge

in

volumes

and

experienced

congestion,especiallyinNorthAmericanandsomeEuropean

ports.15REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWFigure

7

Average

waiting

times

of

container

ships

at

port

in

hours,monthly,

January

2016

–

July

20231412108Developingcountries64Developedcountries20Source:

UNCTAD,basedondataprovidedbyClarksonsResearch,2023.Note:The

waiting

time

is

estimated

based

on

the

time

between

when

a

vessel

?rstentersananchorageassociatedwithaportgroup(oraport,ifananchorageshapehasnotbeendetected)andwhenit?rstentersaberthwithintheport.Data

from

ports

participating

in

the

UNCTAD

TrainForTrade

portmanagement

programme

con?rms

the

impact

of

disruptions

on

portvolumes

and

revenue

growth

rates.

Growth

rates

declined

in

2019

and2020

but

experienced

a

strong

recovery

in

2021

before

falling

again

in2022.

Payroll

as

a

proportion

of

total

revenue

declined,

an

indicator

oflimited

wage

increasesand

cautious

recruitment.Trainingexpenditureasa

percentage

of

payroll

also

remained

low

(ranging

from

0.3

per

cent

to1.1

per

cent

from2016

to

2022),

with

the

lowest

value

recorded

in

2022.While

some

training

shifted

online,

the

overall

level

of

investment

appearsinsuf?cientgiventhetransformativetrendsintheindustry.16REVIEWOFMARITIMETRANSPORT

2023

OVERVIEWFacilitating

maritimetradeenhancesportperformanceandhinterlandconnectivityPort

delays

often

indicate

port

inef?ciencies.

These

are

commonlyattributed

to

administrative

and

institutional

challenges

around

clearinggoods.

Investing

in

digitalization

and

technology

can

help

improvepredictabilityandr