Oil tankers and the navigation crisis: geopolitical implications for sustainable development

Today, climate change has become a major cause of many problems, the impact of which is not limited to the environmental aspect only. The impact of this global phenomenon has extended to severe disruption in many sectors. Therefore, supply chains have become a critical element in resource sustainability efforts in accordance with the twelfth goal: responsible consumption and production.

Therefore, the importance of integrating Sustainable Development Goals (SDGs) into globalsupply chain management emerges; It is something that ensures for all of us efficient use of resources, the ability to reduce waste, as well as reducing carbon emissions, while enhancing fairness in the distribution of economic benefits.

From hereThe Earth Guards FoundationIn this article, we discuss the role of oil tankers in supporting global supply chains in light of the dimensions of the current navigation crisis in the Strait of Hormuz, and this is in view of the extent of the crisis’ impact on achieving the seventeen Sustainable Development Goals (SDGs); So keep reading.

Energy markets in confrontation

As the world continues its efforts to achieve development goals, some regional crises appear on the surface, especially in the Arabian Gulf region, and these crises have been reflected in global energy markets, at a time when experts indicate that any temporary truce or even the end of the conflict will not quickly return the markets to the conditions that preceded the crisis, when oil and gas supplies were more stable and their prices were less volatile.

This is because the escalation – and the subsequent disturbance in shipping traffic – may cause the emergence of an unstable environment for global supply chains, which threatens an actual shortage in oil supply. All of this requires the peoples of the world to provide oil tankers – and other tankers that transport products and other raw materials – safe waterways. In order to reach its goals in various ports of the world, and to enhance trade and economy in countries dependent on the arrival of these shipments.

The Strait of Hormuz A Window on the World

There are more than one sea strait spread throughout the world, and they are passages that have an important role in connecting the seas and oceans, including the Strait of Gibraltar, which connects Europe with Africa, and the Mediterranean Sea with the Atlantic Ocean, and there is also the Strait of the Bosphorus and the Dardanelles, which connect the Black Sea and the Aegean Sea with the Sea of Marmara, as well as the Strait of Malacca, which is responsible for the movement of trade between Europe, the Middle East, and East Asia.

The most important of these sea lanes is the Strait of Hormuz, the only sea lane linking the Arabian Gulf with the open ocean, and it is considered one of the most important strategic choke points in the entire world, and through it passes a large proportion of global oil and gas trade.

The strategic importance of the Strait of Hormuz confirms that any disruption to oil tankers necessarily leads to disruption of the energy sector, as well as disruption of multiple economic sectors based on the stability of logistical supplies and maritime transport chains.

Challenges of the naval blockade

In the midst of this crisis, the naval blockade of any strait poses practical challenges and additional restrictions on navigation, which may increase uncertainty in global markets, especially if they lead to a reduction in the number of ships crossing such vital lanes.

What is worth noting here is that these tankers – oil tankers – need a time ranging between a month and a month and a half to reach their final destinations. This means that any disturbance in shipping traffic today may not have its actual effects in the markets until weeks later!

Because of this, maritime transport experts have indicated that the continued state of uncertainty may prompt some companies to re-evaluate oil tanker routes or postpone their trips, which may exacerbate disruptions in global supply chains and increase pressure on energy markets, which is an impediment to achieving the Sustainable Development Goals (SDGs), including Goal 12 on the need to promote responsible consumption and production, as well as Goal 17 on establishing partnerships to achieve the goals.

The development dimension of the crisis

Such developments in the Middle East region reflect the extent of the interconnection between the security of sea lanes and the stability of the global economy. Because the continued flow of energy is an essential pillar for achieving economic development and supporting industrial and commercial activities in various countries.

Hence the stability of the navigation of oil tankers and all cargo ships is linked to a number of Sustainable Development Goals (SDGs), including the eighth goal: decent work and economic growth, and the ninth goal: industry, innovation and infrastructure, especially with the expansion of the volume of global trade, 90% of which depends onsea shipping.

Therefore,The Earth Guards Foundationreveals that any crisis affecting the sea lanes causes geopolitical imbalance and leads to instability of the global energy system. Consequently, the delay in achieving the Sustainable Development Goals (SDGs); This harms the interests of current and future generations.