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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, June 8, 2014

In the ‘Distress Zone’

Container carriers experience another difficult year with soft demand, excess capacity.    2013 was another tough year for the liner shipping industry, with the container operations of 15 public companies […]

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Chris Gillis Monday, May 19, 2014

U.S.-Colombia FTA at 2 years old

   With two years into the U.S.-Colombia Trade Promotion Agreement, the White House reported that U.S. manufacturers have substantially increased exports of transportation equipment, petroleum and coal products, processed food, […]

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Chris Gillis Monday, May 12, 2014

Shipco moves into West China

   Non-vessel-operating common carrier Shipco Transport has opened a new office in Chongqing, China.    Consolidations from Chongqing will route through the NVO’s Shanghai gateway.    “China’s focus is moving […]

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Chris Dupin Sunday, May 11, 2014

No trade is an island

Latin America’s growth is attractive, but carriers to the region face potential for overcapacity.    In January, U.S. Commerce Secretary Penny Pritzker announced the government’s “Look South” Initiative focused on […]

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Chris Dupin Sunday, May 11, 2014

Targeting surcharges

Businesses that control freight have leverage to keep down additional costs.    Global Shippers’ Forum (GSF), an umbrella organization of shippers groups such as the National Industrial Transportation League (NIT […]

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