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This is why almost half of cargo ships are sailing around empty

·7 min read
This is why almost half of cargo ships are sailing around empty

How do transport markets interact with markets for world trade in goods? The delays in trade costing billions caused by both the blockage of the Suez Canal by the megaship Ever Given, as well as the shortages in transport supply generated in the later phase of the COVID pandemic, have reminded the world of the vital role the transportation sector plays in world trade. While under more ordinary circumstances the role of transportation remains somewhat invisible, new research is finding how the market for shipping services can influence trade flows, the products that countries sell abroad, and the way in which price shocks reverberate through trade.