The Future of World Order: A Maritime Perspective The Future of World Order:
A Maritime Perspective

Stability at sea is the foundation of the modern economy. Maritime power shapes global peace and prosperity. China, Russia, and Iran are increasingly encroaching on freedom of the seas by expanding their maritime activities and territorial claims. In response to Russia's blockade in the Black Sea, Ukraine was forced to improvise a “mosquito navy” comprised of fast, autonomous boats, marine drones, and jet skis. The Houthis have used underwater drones and ballistic missiles to target both warships and commercial shipping in the Red Sea, sinking MV Rubymar, a bulk carrier cargo ship. Maintaining safe and secure sea lanes requires a global coalition of public and private sector partners. Only by prioritizing maritime interests and pooling our resources can allied nations stay true to our values, protect our interests, and ensure a stable and prosperous future for everyone.

Outside of their geopolitical importance, the world's oceans are the cornerstone of international trade and commerce. Oceans transport 90% of globally traded goods. Undersea fiber optic cables facilitate the transmission of 99% of international data traffic. Today, thousands of satellites orbit high above the Earth. They have changed how people connect with the oceans. Ships at sea now have internet connectivity that is 2,000 times faster and at one-third of the cost. This will continue to revolutionize the transportation goods, leading to faster, more affordable, and safer global trade. Despite these advancements, our maritime infrastructure remains vulnerable and brittle. Maritime disruptions, such as the Global Supply Chain Crisis in 2021 and the Red Sea Crisis in 2023, have ripple effects on the global economy.

Beyond its economic and strategic significance, the sea also plays a crucial role in sustaining the ecological balance on our planet. The diverse ecosystems found within the ocean support an abundance of marine life, including species essential for our survival. However, these ecosystems are under threat from various forms of environmental degradation, including illegal fishing, pollution, habitat destruction, and climate change. Urgent action is needed to mitigate these impacts and safeguard the health of our oceans for present and future generations.

Changes in maritime security, global trade, and sustainability, coupled with limited private market investment in the West, highlight the need for critical investments to modernize our maritime capabilities and infrastructure. Our business at Mare Liberum ("freedom of the sea") focuses on investing in the strategic assets necessary for a global coalition of partners to maintain free and open seas. Our Fund invests in maritime assets and capabilities that will be critical in response to three key inflection points:

• 1. Global Trade and Supply Chain Realignment away from China
• 2. Mandates for maritime sustainability and decarbonization
• 3. Challenges to maritime security driven by asymmetric naval warfare

Strategic investments in areas like unmanned and autonomous systems, maritime cybersecurity, modern shipbuilding, and emissions reduction are necessary to adapt to these evolving changes. These investments not only strengthen deterrence but also promote collaboration among allied nations. Only by investing in critical maritime assets and capabilities can nations uphold their autonomy and preserve the freedom of the seas for future generations. Mare Liberum remains committed to making investments that enhance security, sustainability, and prosperity in the maritime realm.