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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 Sunday, July 13, 2014

Weathering climate change

   The National Climate Assessment released in May by the federal government warned the U.S. transportation system is becoming “increasingly vulnerable to climate change impacts.”    At the 33rd World […]

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Chris Dupin Sunday, July 13, 2014

Once upon a container

Port of San Francisco sees a future in breakbulk, bulk cargo.    Since 2005, when the Port of San Francisco stopped handling containers, its cargo business has dropped dramatically, from […]

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Chris Dupin Friday, July 11, 2014

All eyes West

   The attention of carriers and shippers is focused Friday morning on events in Los Angeles and Long Beach, where a potentially volatile labor situation is unfolding.

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Chris Dupin Thursday, July 3, 2014

PNCT adds new cranes

   The cranes, which are currently under assembly at the Newark, N.J., terminal, are only the most visible sign of a $500 million project to improve PNCT, with work extending […]

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Chris Dupin Thursday, July 3, 2014

PNCT adds new cranes

   Global Container Terminal is not the only facility at the Port of New York and New Jersey being upgraded.    Port Newark Container Terminal expects to put into operation […]

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Chris Dupin Tuesday, June 17, 2014

China decision sinks P3

   The Chinese Ministry of Commerce will not approve the proposed P3 Network between Maersk Line, Mediterranean Shipping Co. and CMA CGM, scuttling the effort by the three carriers to […]

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