TRANSFORMATION OF GLOBAL SEABORNE TRADE: REGIONAL SHIFTS AND THE STRATEGIC ROLE OF SHIPBUILDING

This article provides a comprehensive analysis of the transformation of global seaborne trade amid worldwide economic shifts and rising geopolitical tensions. Particular attention is devoted to changes in the regional distribution of maritime transport cargo flows by major commodity groups: crude oil, other liquid bulk (including refined petroleum products and LNG), and dry bulk trade (containers, ores, coal, grain, etc.). Based on official data from 2020 to 2023, the study identifies global trends and national patterns in countries' participation in seaborne trade. The findings indicate that the main exporters of crude oil include Saudi Arabia, Russian Federation, the United States of America, Iraq, and the United Arab Emirates. In the segment of refined petroleum and liquefied natural gas shipping, the United States, Russia, and Qatar hold leading positions. The formal decline in Russia’s recorded oil and liquid bulk shipping volumes in recent years is explained by both Western sanctions and the widespread use of a so-called “shadow fleet” – vessels that are not formally registered to Russia but are engaged in transporting its export commodities. In the dry bulk trade, the share of Australia, Brazil, China, and Indonesia has grown significantly, driven by increased demand for raw materials from East and Southeast Asia. The leading regions for each cargo type have been identified, with Asia and the Americas remaining dominant players in global shipping networks. Special emphasis is placed on the strategic role of shipbuilding in shaping maritime infrastructure. Between 2015 and 2024, over 90% of new vessels were constructed in Asia, primarily in China, South Korea, and Japan underscoring the region's industrial and technological dominance. The article argues that such concentration grants Asian countries significant leverage over fleet standards, environmental regulations, and access to innovative ship types. To reduce dependence on Chinese shipbuilding, the article recommends that shipping companies in the US and EU deepen cooperation with shipbuilders from South Korea and Japan.