Maritime security is crucial for the stability of global trade, particularly in vital shipping corridors like the Bay of Guinea, the Red Sea and the Persian Gulf, which are integral to the movement of goods worldwide, reports Container News.
Unique challenges
These areas, however, confront unique challenges and risks that could disrupt international commerce, including piracy, political instability, and state fragility.
A recent report by the United Nations Institute for Disarmament Research (UNIDIR) highlights the need for a new specialized agency within the UN to tackle increasing global maritime security concerns comprehensively, pointing out the current lack of a dedicated institutional framework.
Conversely, the Red Sea has seen a slight improvement in its Maritime Risk Index, decreasing from 0.6 in 2020 to 0.58 in 2023. Despite this reduction, the region continues to face moderate risk levels due to persistent geopolitical tensions and activities of non-state actors, particularly near the Bab-el-Mandeb Strait.
Maritime Risk Index
The Persian Gulf has consistently registered the lowest Maritime Risk Index among the three regions, showing a decline from 0.55 in 2020 to 0.51 in 2023, indicating enhancements in regional stability and reduced risks linked to state fragility. This positive trend is likely due to increased regional collaboration, political stabilization in key countries like Saudi Arabia and the UAE, and efforts to diversify economies away from oil.
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Source: Containernews
