Global Economic Perspectives

Global seaborne oil and gas traffic remains down by 17% compared to pre-conflict benchmarks. While non-energy shipping has largely recovered, energy-specific routes, particularly in Asia, remain severely impacted.

Key Takeaways

• 1.Global seaborne oil and gas shipping traffic is currently down 17% relative to pre-conflict levels.
• 2.The shortfall in Gulf-Asia shipping routes is significant (down 40%) and has not been fully offset by increased flows from the US.
• 3.Non-energy related shipping traffic has shown a rebound from its March lows and remains generally resilient despite energy price volatility.

Table of Contents

• Global Economic Perspectives
• Valuation Method and Risk Statement
• Required Disclosures
• Analyst Certification
• UBS Global Research Disclaimer

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