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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 Monday, December 30, 2013

Mali re-enters AGOA

   The White House has reinstated Mali’s eligibility to receive trade benefits under the African Growth and Opportunity Act, meaning that 40 of the 49 potentially eligible countries in sub-Saharan […]

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Chris Dupin Monday, December 30, 2013

Seaspan announces refinancing

   The containership chartering company Seaspan Corp. announced Monday it has entered into an agreement to extend and refinance its $1 billion credit facility.    “The refinancing provides multiple benefits […]

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Chris Gillis Friday, December 20, 2013

European NVOs partner

   Ecu-Line, a non-vessel-operating common carrier based in Antwerp and subsidiary of the Avvashya Group in India, has partnered with FCL Marine Agencies in Rotterdam.    FCL Marine is a […]

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Chris Gillis Thursday, December 19, 2013

U.S., Libya ink TIFA

   The deal will establish a joint U.S.-Libya Council on Trade and Investment, which will address issues including market access, intellectual property, labor, and environmental challenges, the Office of the […]

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Chris Dupin Thursday, December 19, 2013

Blank field

   This case arose out of a disagreement between Radiant Global Logistics’ Airgroup and fashion apparel shipper Donna Karan over a stolen shipment.    The parties did not dispute any […]

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Chris Dupin Thursday, December 19, 2013

Uncharted waters

If the liner industry consolidates will that benefit or hurt shippers?    Shippers and liner carriers enter 2014 amid potentially great change in container shipping.    Last June, Maersk Line, Mediterranean […]

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Chris Dupin Monday, December 2, 2013

ILA opposes P3 Network

In a letter to the FMC, ILA President Harold Daggett wrote, “Such a drastic consolidation of capacity naturally leads to questions as to the long-term impact of such an agreement […]

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Chris Gillis Monday, December 2, 2013

MTC Logistics expands in Baltimore

   MTC Logistics, a subsidiary of Hoffberger Holdings, Inc., will expand its Port of Baltimore temperature-controlled distribution center located at the Chesapeake Commerce Center.    “The strategic position immediately adjacent […]

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