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Global maritime trade grew by 2.4% in 2023, recovering from a 2022 contraction, but the recovery remains fragile. Key chokepoints like the Suez and Panama Canals are increasingly vulnerable to geopolitical tensions, conflicts and climate change. These disruptions are extending shipping routes, straining supply chains and raising costs, with profound impacts on food security, energy supplies and the global economy, as over 80% of world trade volume is carried by sea. Vulnerable economies, especially small island developing States and least developed countries, are hit hardest by rising shipping costs from rerouted vessels. The Review of Maritime Transport 2024 highlights these challenges, calling for urgent action to strengthen industry resilience, accelerate decarbonization and support vulnerable economies. It underscores the need for new infrastructure that is sustainable and resilient, a faster transition to low-carbon shipping and a crackdown on fraudulent ship registrations to safeguard global trade.

The international ship registration system is an important component of shipping policy. A review of its historical development in China reveals that its implementation has yet to achieve the intended outcomes. The construction of the Hainan Free Trade Port presents a valuable opportunity to advance the development of this system. Based on the Theory of Change Model, this study assesses the current state of China's international ship registration system within the context of the Hainan Free Trade Port. We also employ research methods such as SWOT analysis and comparative analysis to objectively assess the implementation of this innovative policy from both macro and micro perspectives, as well as from qualitative and quantitative angles. Our analysis identifies a range of persistent challenges, including imperfect supporting policies and insufficient regulatory oversight. In response, we propose a series of reform measures spanning legislative, judicial, and law enforcement dimensions. These include restructuring the taxation system for shipping enterprises, enhancing the regulatory framework for ship registration, and developing a robust system of ancillary services. Collectively, these reforms are essential for comprehensively strengthening the maritime soft power of China's shipping industry.

The latest Review of Maritime transport urges action to strengthen infrastructure and operations, promote low-carbon shipping and combat growing concerns over fraudulent ship registrations.

Panama deregisters oil tanker that strayed into Iranian waters.

Panama To Modernize Greek Ship Registry.

Panama: Seized Iranian Tanker Removed From Registry.

Bolivian-flagged ship held by Somali pirates is freed