Beware of pirates: Challenges for shipping today

The shipping industry went through many challenges during the COVID-19 pandemic, but today vessels are facing new threats. Piracy by Houthi rebels in the Suez Canal are forcing ships to take a long and expensive detour via the Cape of Good Hope in South Africa. In addition, the drought in the Panama Canal is also causing delays and increased costs. With more than 80 percent of traded goods transported on water, how is the shipping industry doing today? What are the biggest challenges? How is it adjusting to the green energy transition?
Joining this episode of the Peterson Institute for International Economics event series Trade Winds are:
HOST
Cecilia Malmström
Nonresident Senior Fellow, Peterson Institute for International Economics (PIIE)
GUESTS
Carl-Johan Hagman
President and CEO, NYK Group Europe Ltd.
Jan Hoffmann
Head, Trade Logistics Branch, United Nations Trade and Development
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