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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 Wednesday, November 20, 2013

Look out, P3 sailing through

   The P3 Network carriers – Maersk, Mediterranean Shipping Co. and CMA CGM – have started sharing details of their proposed vessel-sharing agreement with U.S., European and Chinese regulatory authorities. […]

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Chris Dupin Wednesday, November 20, 2013

Marine policy rescinded

   Afederal judge found an insurer was justified in rescinding an ocean marine insurance policy because the insured misrepresented the value and condition of a dry dock it insured. (Catlin […]

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Chris Dupin Wednesday, November 20, 2013

At intermodal’s hub

   Hub Group typifies the shift to more diverse services in this market space.    In the railroad world, the moniker “hub” is well suited to Chicago, with its mass […]

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Chris Dupin Wednesday, November 20, 2013

Saying ‘yes’

ACL’s added capacity will allow it to increase shipper cargo allocations.    Andy Abbott, president and chief executive officer of Atlantic Container Line, said he’s looking forward to being able to […]

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Chris Dupin Wednesday, November 20, 2013

LNG ready

   Shippers “call the shots” as to where container carriers send their ships, said Anil Vitarana, president of United Arab Agencies, the agent for United Arab Shipping Co. (UASC) in […]

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Chris Dupin Wednesday, November 20, 2013

Shipper schism?

Fault lines make unified voice for cargo groups elusive.    With the globalization of business and the bigger regulatory role being played by international bodies, such as the International Maritime Organization (IMO), there […]

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Chris Dupin Tuesday, November 19, 2013

MOL makes logistics push

   MOL Group said it’s expanding its logistic services.    The Japanese company noted “in recent years, particularly in the Mekong region, the group has aggressively developed its networks, and […]

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Chris Gillis Monday, November 18, 2013

U.S., CARICOM seek to strengthen trade

   Senior officials from the United States and Caribbean Community (CARICOM) met Friday to discuss enhanced cooperation in multilateral fora, an increased focus on intellectual property protection, development of e-commerce infrastructure, and removal […]

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Chris Gillis Friday, November 1, 2013

USTR: Exports to Panama on the rise

   Marking the one-year anniversary of the U.S.-Panama trade agreement entering into force Thursday, U.S. Trade Representative Michael Froman highlighted significant increases in American shipper activity to the Central American country. […]

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