Six of the world’s largest ports with a combined $1.14 trillion of import/export trade for the second half of the year are exposed to increasing geopolitical and windstorm risk in 2020, according to analysis by Russell Group.
The trade volumes of each port easily exceeds $100 billion.
Russell Group notes how Hong Kong, currently in the eye of a geo-political storm cloud, heads the list of ports with $288 billion of trade passing through, with Singapore coming in not far behind with $255 billion.
Houston, meanwhile, which lies at the heart of US global shipping, is potentially exposed to nearly $188 billion of Gulf of Mexico windstorm risk as we enter the midpoint of the hurricane season.
“Trade conflict is proliferating, while at the same time, structural challenges have deepened. Uncertainties associated with these tensions have already hit business and investor confidence,” said Russell Group CEO Suki Basi.
“The launch of these figures today highlights once again the impact of connected risk across all aspects of the specialty class. In particular, the effect on trade from other connected risks such as natural perils, supply chain and geopolitical.”
