Switzerland university, University in Neuchâtel, Switzerland

Geneva [Switzerland], November 19 Although the COVID-19 pandemic's impact on maritime trade last year was less severe than expected, the knock-on effects will be far reaching and could transform the sector, the UN trade and development body, UNCTAD, said in its latest report, published on Thursday.Maritime trade contracted by 3.8 per cent in 2020, but later rebounded, and is estimated to increase by 4.3 per cent this year, according to the report.UNCTAD's Review of Maritime Transport 2021 reveals the outlook for the medium term remains positive but subject to "mounting risks and uncertainties", such as unprecedented pressures on global supply chains, dramatic spikes in freight rates, and price increases affecting both consumers and importers.The agency said global socioeconomic recovery will depend on smart, resilient and sustainable maritime transport, and a worldwide COVID-19 vaccination effort that sees developing countries having fairer access to doses."A lasting recovery will depend on the path of the pandemic and largely hinges on being able to mitigate the headwinds and on a worldwide vaccine roll-out," said Rebeca Grynspan, the UNCTAD Secretary-General."The impacts of the COVID-19 crisis will hit small island developing States (SIDS) and least developed countries (LDCs) the hardest," she added.As UN chief Antonio Guterres has repeatedly pointed out, COVID-19 has laid bare numerous social inequalities.UNCTAD said the pandemic has also exposed and magnified existing challenges in the maritime transport industry, particularly labour shortages and infrastructure needs.The agency has called for urgent action to resolve the plight of hundreds of thousands of seafarers who remain stranded at sea due to the pandemic, as lockdowns, border closures and a lack of international flights have affected crew replacements and repatriations.The report said industry, Governments and international organizations must ensure seafarers are designated as key workers and vaccinated as a matter of priority.The report examines factors that are driving consumer prices higher.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Switzerland UniversityFOLLOW

Switzerland university, Latest News

Geneva, Jan 22 The World Economic Forum (WEF) announced that it will hold its 2022 annual meeting from ... ...

Glenmark Pharmaceuticals Limited, a research-led, global integrated pharmaceutical company announced that its fully owned subsidiary Glenmark Specialty S.A. (Switzerland), received FDA approval on its New Drug Application (NDA) for Ryaltris™, an inno ...

During a recent study, an international team of scientists identified antibodies that neutralize omicron and other SARS-CoV-2 variants. ...

Chennai, Dec 19 Tamil Nadu Chief Secretary V. Irai Anbu had no choice other than to burn the ... ...

Tourism sector again faces uncertainty as omicron spreads slowly Aurangabad, Dec 11: The tourism sector that was slowly returning ... ...

9 travelers left the city, four are untraceable Aurangabad, Dec 8: Over 222 travelers from Saudi Arabia, Brazil, Australia, ... ...

In view of the surge in COVID-19 cases globally and detection of new variant of Omicron, the World Health Organization on Saturday appealed to countries in South-East Asia Region to scale up surveillance, strengthen public health and social measures, ...

Geneva [Switzerland], November 19 Although the COVID-19 pandemic's impact on maritime trade last year was less severe than ... ...