The United Nations Conference on Trade and Development (UNCTAD) published its 2025 Review of Maritime Transport in November, with a title that could not be more eloquent or appropriate: staying the course in turbulent waters. Indeed, the complex geopolitical and economic context of recent years affects all layers of the economy, but in a sector as globalised as maritime transport and so closely linked to the dynamics of supply and demand, this exposure is even greater.
The year 2026 has not started much better in this regard; the World Trade Organisation has already warned of a very severe slowdown in world trade this year, estimating that it will grow by only 0.5% compared to the previous year, mainly due to the trade policy of the US administration and the responses of some countries.
Given the unpredictable nature of many of the measures taken by President Trump, any change is possible in terms of tariffs, which, while it may improve growth expectations, will also add volatility to an highly uncertain market. In the geopolitical arena, tensions remain high in many regions of the world and a definitive resolution to conflicts is still not in sight. Besides that, a new demand is added: the struggle for exploitable natural resources in different areas and clashes between economic blocs over sovereignty.
However, the maritime sector not only has to contend with an unfavourable context, in which the economic situation often takes precedence over strategy, but also faces a series of far-reaching structural challenges that it must address and that will determine its future.
Faced with this future with so many possible scenarios and this present with so many uncertainties, the position of companies in defining their strategies and facing their decision-making process is increasingly delicate. Moreover, to this day, information is practically unlimited and users can access to updated data about what is happening almost in real time and in nearly any location. They can even count on an assistant who, at the click of a button, offers a (free) interpretation of that data. But the reality is that this scenario is not providing certainty for companies; on the contrary, we are at historic highs in terms of levels of uncertainty and business mistrust.
It is precisely in this context where Pharos 39.0 emerges, a digital space designed to disseminate ideas, helping tounderstand the complex dynamics that are continuously transforming the logistics-port ecosystem. A place to analyse trends, share ideas andinnovative projects, allowing us to have a medium-term vision of the key issues in the sector. All this with the collaboration of professionals, researchers and international leaders in the field of ports, trade, maritime transport and logistics.
Pharos 39.0, an initiative of the Valenciaport Foundation with the support of the Port Authority of Valencia, was created with the aim of becoming the benchmark for knowledge of the maritime-port sector and making it available to the entire community as a tool to accompany us on our joint journey.
Because TOGETHER, WE CAN GO FURTHER.
*Disclaimer: This English version has been generated with the support of AI-based translation tools. In case of discrepancies, the Spanish original prevails.