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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 Dupin Saturday, February 21, 2015

Perishable fashion

   “Believe it or not, we deal in perishables,” said Joseph Roisman, executive vice president with Perry Ellis International. Like other apparel companies, Perry Ellis has struggled with congestion at […]

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Chris Gillis Saturday, February 21, 2015

Still where the action is

   While the asset-based freight transportation business continues to consolidate into the hands of fewer and larger firms, the non-asset-based counterpart—made up mostly of freight forwarders and non-vessel-operating common carriers—remains […]

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