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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, November 1, 2014

Mare nostrum

   A crossroad of trade for millennia, regional shipping services remain vital to some 700 million people in 24 countries along the shores of the Mediterranean and Black Sea.   […]

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Chris Dupin Saturday, November 1, 2014

Emails thrown out

   In February and April 2011 Kentucky Fuel Corp. entered into contracts with Celtic Marine for the transport of coal by barge from terminals in Kentucky and West Virginia to […]

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Chris Dupin Saturday, November 1, 2014

Missing packages

   First State Depository provides shipping and other services for coins and special metals. It shipped product with UPS. Its insurers alleged 27 of First State’s shipments worth $150,000 were […]

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