Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Global Trade topic
No spam. Unsubscribe anytime.
IMO chief: shipping moves roughly 90% of global goods, so disruptions ripple widely
Summary
Secretary‑General Arsenio Dominguez said ships carry about 90% of global goods and that disruptions — whether geopolitics or accidents — have immediate effects on supply chains, prices and seafarers' welfare.
Arsenio Dominguez, Secretary‑General of the International Maritime Organization, emphasized shipping’s outsized role in global trade, saying that merchant vessels carry roughly 90% of the world’s goods and that interruptions quickly raise costs and harm supply chains.
"We carried around 90% of global goods around the world," Dominguez said, adding that when routes are disrupted prices for oil and food rise and people feel the effects. He said the sector's low public visibility means its importance is often only noticed during crises.
Dominguez described the industry’s international complexity—ships built, flagged, owned and crewed across different countries—which complicates regulation and response to geopolitical shocks. He argued for stronger attention to shipping and for recognition of seafarers as key workers.
