The chart on the left looks at the year-over-year growth in world trade. Tighter monetary policy and geopolitical uncertainties have weighed on world trade volumes, with activity contracting as of February 2023. The chart on the right shows a breakdown of global seaborne trade by product. Importantly, more than 90% of the world’s traded goods touch water at some point in their life, highlighting the essential role that transportation assets play within the context of the global economy.