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The outbreak of the COVID-19 pandemic had a negative impact on shipping industry growth in 2020. With the world in lockdown, demand for non-essential consumer goods (and the means to ship them) decreased. Shipment of manufactured goods also decreased as factories closed in an effort to slow the spread of the virus. On top of that, China — one of the world’s largest exporters — was at the center of the pandemic, leading several countries to stop trade with the nation altogether.

According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.

Check back here for the latest container shipping news, updates and trends. Looking for additional information and insights? Check out our Maritime Industry News archives.

Chris Gillis Saturday, April 18, 2015

Diversity in PSCG

   When the World Customs Organization set out to establish the SAFE Framework of Standards to Secure and Facilitate Global Trade after the Sept. 11, 2001 terrorist attacks, it handpicked […]

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Chris Dupin Saturday, April 18, 2015

Deeper collaboration

   The changes taking place in the container-shipping industry are structural, not cyclical, said Ron Widdows, ex-chairman of the World Shipping Council and former chief executive officer of Neptune Orient […]

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