The new rules on decarbonizing shipping are another structural issue that will raise prices.

The IMO's
short-term measure for reducing greenhouse gases, which was recently approved, is expected to lower
average shipping speeds and raise costs for maritime transportation, particularly for developing nations
and SIDS.Cargo-carrying ships made fewer port calls in the first half of 2020 as a result of the drop in
shipping demand caused by COVID-19.Following that, there was a rise in the number of calls, but not to
pre-pandemic levels, particularly in Europe, East Asia, and South-Eastern Asia.In order to contain COVID-
19, terminal operators, government officials, and intermodal transport providers implemented
measures in 2020. As a result, ships had to spend more time in ports that were operating at a slower
pace.Dry break bulk carriers, whose cargo operations are typically less automated and more labor-
intensive, experienced the most delays because of measures to reduce social contact.Figure 3 shows
that turnaround times can vary significantly from country to country.Countries with fewer arrivals, fewer
small ships, and fewer containers loaded and unloaded at each port call make up one group of countries
with faster turnaround times.Dominica, Saint Kitts and Nevis, and Saint Vincent and the Grenadines are
examples of these.