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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 Tuesday, July 30, 2013

AIT expands to Omaha

   Itasca, Ill.-based freight forwarder AIT Worldwide Logistics has expanded its presence in the Midwest by adding a new office in Omaha, Neb.    The Omaha office includes two dozen […]

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Chris Dupin Wednesday, July 24, 2013

TRAC rolls out new chassis

   TRAC Intermodal has introduced a premium 40-foot gooseneck marine chassis.    The container leasing company said its “TRAC TITAN” chassis are available for daily use to motor carriers in […]

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Chris Dupin Tuesday, July 23, 2013

To buy or lease?

With competing needs for capital, liner carriers are using more leased containers. By Chris Dupin    To buy or lease? It’s a question faced not only by new car shoppers, […]

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Chris Dupin Tuesday, July 23, 2013

Quest for capital

Rickmers CEO says ocean shipping must tap new financial sources. By Chris Dupin    For decades, limited partnerships, or “kommanditgesellschaft” (KG) in Germany, and loans from European banks have been important […]

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Chris Dupin Tuesday, July 23, 2013

A life on the docks

   Senior shipping executives and labor leaders gathered last month to celebrate the retirement of Jim Capo and Brian Dugan, respectively the chief executive officer and vice president of the […]

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Chris Gillis Wednesday, July 10, 2013

USDA sharpens Lacey Act terms

   The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service will publish an interim rule establishing the definitions of “common cultivar” and “common food crop” and seeks public […]

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