Eighteen major maritime nations have warned that growing differences in shipping rules are creating a separate part of the global fleet that operates outside normal safety, insurance and transparency standards.
The warning came in a joint statement issued Tuesday by the Consultative Shipping Group (CSG), an informal group of maritime authorities from 18 countries. The group represents more than a fifth of global trade by tonnage.
More than 80% of world trade is carried by sea, making a stable shipping system important for global supply chains and the wider economy.
The CSG said shipping has faced repeated disruptions in recent years, including the COVID-19 pandemic, the war in Ukraine, drought in the Panama Canal and the U.S.-Iran war.
The situation in the Middle East has added to those problems this year. Fighting and blockades around the Strait of Hormuz have made the waterway a major pressure point for global shipping.
Oil and other commodities, including fertilizers, have become
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