Port of Bilbao advocates for infrastructure resilience

Iván Jiménez, President of the Port of Bilbao, is advocating for a strategic shift in port infrastructure investment to prioritize long-term resilience over mere efficiency. This approach aims to minimize the impact of global maritime crises.

Currently, the logistics industry faces significant risks from acute threats at major maritime chokepoints. Historical disruptions, such as the 1973 oil embargo and recent Red Sea tensions, demonstrate a pattern of reactive measures that often fail to address underlying structural vulnerabilities. While approximately 90% of world trade by volume is transported by sea, much of it is concentrated through a few critical points, including the Strait of Malacca, the Suez Canal, and the Strait of Hormuz. Research suggests that disruptions at the 24 major maritime chokepoints can affect an estimated $192 billion in maritime trade annually.