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‘Permacrisis’ was crowned word of the year by the editors of the Collins English Dictionary at the end of 2022, defined as “an extended period of instability and insecurity”. It seems an appropriate term to describe the state of global trade, finance, and supply chains as we enter 2023.
There is a growing sense of uncertainty and instability worldwide, and decision-makers are left wondering if this hazy state of affairs is here to stay.
The start of the year is often a time for reflection, setting resolutions and taking a forward-looking view of the months ahead. Mirroring my personal aspiration for a ‘damp’ January, the outlook for trade also appears somewhat damp (rather than dry January, I have opted for a reduction, rather than a full withdrawal of alcohol consumption this month).
Predictions for 2023 hint towards a looming global recession, with inflation rates at their highest levels since the 1980s and the geopolitical situation remaining tense, spurred by the destructive escalation of Putin’s lingering invasion of Ukraine.
Read more in the foreword for what’s in store for shipping in 2023.
Deepesh Patel, editor, TFG
Carter Hoffman, assistant editor, TFG
What’s inside this Issue?
Uncertainty in the high seas: how international trade can survive 2023
Trade volume, commodity and insurance predictions for 2023
African trade encouraged by improved 2023 country risk outlooks
13 common Letter of Credit and Bill of Lading frauds: Learning from the Solo 18 Industries and Saad Group fraud cases
How to use Incoterms® proficiently: risk, responsibility, and transfer operations
Updated digital trade rules: ITFA, URTEPO, and streamlining payment 28 obligations
Think data, not documents: advancing MLETR in 2023
Shipping and logistics in 2023
Shippers navigate a troubled market
UK Freeports: catalysts for regional economic development and recovery
The Times They Are a-Changin’: Navigating the new carrier landscape
India: A potential winner in the China supply chain crisis
Digitisation in shipping and logistics
Shifting the mindset towards innovation in ports
Ecosystems within the maritime industry: the changing styles of leadership
DeFi in Trade Finance: Fulfilling the promise of Globalisation
To agriculture and beyond: a look at how IoT technology is transcending industry silos
Three tech strategies for shippers in 2023
Shipping and ESG
What to expect in the shipping industry for 2023
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