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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 Friday, January 24, 2014

Quala acquires ProKleen

   Tampa, Fla.-based bulk tank container transportation services provider Quala has acquired ProKleen, a food-grade commercial tank-washing service with locations in Oakville and Concord, Canada.    Terms of the deal […]

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Chris Dupin Sunday, January 19, 2014

Caterpillar on the road

With U.S. infrastructure headed south, heavy equipment shipper sends 40 percent of cargo north.    Stu Levenick, president of Caterpillar, said aging U.S. transportation infrastructure and related shipping inefficiencies raise […]

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Chris Dupin Friday, January 17, 2014

Making the sailing

Swayed by changing market conditions and trends, retailers continue to drive logistics services.     In the wake of the 2009 financial crisis, U.S. liner imports fell 16 percent, exports […]

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Chris Dupin Friday, January 17, 2014

Up a creek

   Should the owner of a vessel be awarded damages for economic loss due to negligence in the absence of physical damage to its property?    That issue was addressed […]

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Chris Dupin Thursday, January 16, 2014

PIL to call Seattle

   Pacific International Lines (PIL) will begin calling the Port of Seattle next month.    Singapore-based PIL’s new Asia Pacific Northwest Service (ANW) will call Terminal 30 in partnership with […]

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