Question One (35 marks) Figure 1.1, below, taken from the 2021 UNCTAD Review of Maritime Transport, shows the changing s

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Question One 35 Marks Figure 1 1 Below Taken From The 2021 Unctad Review Of Maritime Transport Shows The Changing S 1 (284.28 KiB) Viewed 36 times

Question One (35 marks) Figure 1.1, below, taken from the 2021 UNCTAD Review of Maritime Transport, shows the changing shape of international seaborne trade by broad commodity classes of the liquid-bulk oil & gas trades (shown in dark blue in the graphic); the major dry bulks (shown in purple); other dry-bulk cargo (light green); and containerised general cargo (shown in light blue), over the period 1980-2020. Use the information in Figure 1.4 to answer Questions 1(a) and 1 (b) that follow. Figure 1.4 International maritime trade by cargo type, selected years (millions of tons loaded) 12 10 8 6 4 2 0 1980 1985 - Tanker trade Main bulk Container Other dry cargo Source: UNCTAD Review of Maritime Transport, various issues. For 2006-2020, the breakdown by cargo type is based on Clarksons Research, Shioping Review and Outlook, Spring 2021 and Seaborne Trade Monitor, various issues. Note: Given methodological differences, containerized trade data in tons sourced from Clarksons Research are not comparable with data in TEUs featured in tables 1.8 and 1.9 and figures 1.8 and 1.9 of this report and which are sourced from MDS Transmodal. Tanker trade includes crude oil, refined petroleum products, gas, and chernicals. Question 1 (a) II It is clear from Figure 1.1 that the major categories of liquid-bulk, major dry-bulk and containerised cargoes have experienced very different long-term growth over the 40-year time span shown. Oil and petroleum cargoes (essentially the tanker trades) have reflected the slowest growth over the whole period, indeed after some absolute decline in the 1980s; the major dry bulks have shown quite a steady volume growth throughout, but especially after 2000, and containerised cargoes have exhibited significantly higher growth over very nearly the full time period under consideration. How would you account for these developments, and why should none of them come as any great surprises? How, in particular, would you explain the sustained and significantly higher growth exhibited by containerised general cargoes? (I am looking for a fairly full conceptual coverage in this case.) (25 marks) PTO for Question 1 (b) Question 1 (b) Over the time period shown in Figure 1.4, the only short time interval when containerised general cargoes did not grow faster than the other cargo categories was at the time of the 2008-2009 international economic "crisis” or slow down, when the container trades experienced a brief period of absolute decline (but then a quick recovery), while the bulk trades were affected to a much smaller extent. Why would this behaviour also not be a great surprise? To what extent do the impact of the COVID-19 pandemic on the principal categories of "K, dry-bul container sea trade different (if at all)? Give a reasoned basis for yo all ca ks) १४