Publication: A Metric of Global Maritime Supply Chain Disruptions: The Global Supply Chain Stress Index (GSCSI)
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2024-07-16
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2024-07-16
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Global supply chains recently faced widespread disruptions. The COVID-19 pandemic caused major disruptions in 2021 and 2022, while in late 2023, geopolitical incidents in the Red Sea and water shortages in the Panama Canal disrupted global shipping routes. Regardless of the cause, delays, or rerouting mean that disruption diffuses at a global scale. To quantify and assess the magnitude of disruptions globally or locally, in 2021, the World Bank developed a proposed metric, the Global Supply Chain Stress Index. The index derives from Automatic Identification System tracking data. It calculates the equivalent stalled ship capacity measured in twenty-foot equivalent units), providing data at the port, country, regional, and global levels. This granular information can inform targeted interventions and contingency planning, improving the resilience of maritime infrastructure and networks. The index explains the observed surges in shipping rates during disruptions, assuming shippers’ willingness to pay for scarcer shipping slots. An increase of 1 million twenty-foot equivalent units in global stress pushes the Shanghai Containerized Freight Index up by US$2,300 per twenty-foot equivalent unit.
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“Arvis, Jean-François; Rastogi, Cordula; Rodrigue, Jean-Paul; Ulybina, Daria. 2024. A Metric of Global Maritime Supply Chain Disruptions: The Global Supply Chain Stress Index (GSCSI). Policy Research Working Paper; 10839. © World Bank. http://hdl.handle.net/10986/41873 License: CC BY 3.0 IGO.”
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