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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, March 11, 2013

XRS names Reidy COO

   Minneapolis-based XRS Corp. has appointed Brendan Reidy to president and chief operating officer.    Reidy is the former chairman and chief executive officer of Clarus Systems in Redwood City, […]

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Chris Gillis Thursday, March 7, 2013

TCA names Kretsinger chairman

   The Truckload Carriers Association (TCA) has elected Tom Kretsinger Jr., president of Liberty, Mo.-based American Central Transport, as its 2013-2014 chairman.    He follows past association chairmen Gary Salisbury […]

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Chris Gillis Wednesday, February 27, 2013

Ides of March

   What this past year has taught the shipping industry is just how powerful unionized dock labor on both coasts has become in the United States and how much of […]

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Chris Dupin Wednesday, February 27, 2013

The other way around

Suez routings to U.S. East Coast increase with bigger, more efficient ships. By Chris Dupin    As work continues on the expansion of the Panama Canal, fuel has gotten extremely expensive […]

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Chris Dupin Wednesday, February 27, 2013

Supreme confusion?

   In a 7-2 decision, the U.S. Supreme Court sided with a homeowner who said his floating home was not a vessel and therefore not subject to arrest under maritime […]

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Chris Dupin Wednesday, February 27, 2013

Arbitrators upheld

   In a summary order, the Second Circuit Court of Appeals affirmed a 2011 decision by the District Court for the Southern District of New York confirming an arbitration award […]

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