Review of MaRitiMe tRanspoRt 2015REVIEW OF MARITIME TRANSPORT 2015REVIEW OF MARITIME TRANSPORT 2015ivTABLE OF CONTENTSNote . iiAcknowledgements . iiiList of tables, figures and boxes . vAbbreviations . viiExplanatory notes. viiiVessel groupings used in the Review of Maritime Transport . ixExecutive summary . x1. DEVELOPMENTS IN INTERNATIONAL SEABORNE TRADE . 1A. World economic situation and prospects . 2B. World seaborne trade. 5C. Sustainable and resilient maritime transport systems . 212. STRUCTURE, OWNERSHIP AND REGISTRATION OF THE WORLD FLEET . 29A. Structure of the world fleet . 30B. Ownership and operation of the world fleet. 35C. Container ship deployment and liner shipping connectivity . 39D. Registration of ships . 41E. Shipbuilding, demolition and new orders . 433. FREIGHT RATES AND MARITIME TRANSPORT COSTS . 47A. Determinants of maritime transport costs . 48B. International transport costs . 54C. Recent developments in freight rates . 564. PORTS . 65A. Ports and port-related developments . 66B. International terminal operators . 70C. Sustainability challenges facing ports . 735. LEGAL ISSUES AND REGULATORY DEVELOPMENTS . 79A. Important developments in transport law . 80B. Regulatory developments relating to the reduction of greenhouse gas emissions from international shipping and other environmental issues . 83C. Other legal and regulatory developments affecting transportation . 89D. Status of conventions . 96E. Trade facilitation and sustainable development . 97vTABLE OF CONTENTSLIST OF TABLES, FIGURES AND BOXESTables1.1. World economic growth, 20122015 (annual percentage change) .