International shipping authorities have warned that geopolitical turmoil and a growing “shadow fleet” are impacting the existing shipping order, and that global shipping rules are at risk of collapse. The Consultative Shipping Organization, a policy coordination organization composed of the maritime authorities of 18 major shipping countries around the world, stated in a joint statement on Tuesday that more than 80% of global trade is completed by sea. For decades, international rules that guarantee freedom of navigation and the neutrality of merchant ships have protected the global shipping industry. Today, however, these basic principles are being weakened, posing serious risks to global trade. The statement said, “Without maritime trade, the supply chain would be torn apart, and the global economy would suddenly come to a standstill as we know it.”

International shipping authorities have warned that geopolitical turmoil and a growing “shadow fleet” are impacting the existing shipping order, and that global shipping rules are at risk of collapse. The Consultative Shipping Organization, a policy coordination organization composed of the maritime authorities of 18 major shipping countries around the world, stated in a joint statement on Tuesday that more than 80% of global trade is completed by sea. For decades, international rules that guarantee freedom of navigation and the neutrality of merchant ships have protected the global shipping industry. Today, however, these basic principles are being weakened, posing serious risks to global trade. The statement said, “Without maritime trade, the supply chain would be torn apart, and the global economy would suddenly come to a standstill as we know it.”