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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, October 24, 2012

GES names Hughes CEO

   Third party logistics services provider Globe Express Services (Overseas Group) has appointed Michael C. Hughes to president, chief executive officer, and board member, effective Dec. 1.    Current CEO […]

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Chris Gillis Wednesday, October 24, 2012

Crowley names VPs

   Crowley Maritime Corp. has appointed Steve Demeroutis to vice president of marine operations for its petroleum and chemical transportation group.    Rudy Leming will assume Demeroutis’ former position as vice […]

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Chris Dupin Friday, October 19, 2012

Locked Out?

Liberty Maritime says proposed changes keep U.S.-owned firms out of MSP. By Chris Dupin    A New York shipowner says proposed changes in the Maritime Security Program (MSP) would lock […]

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Chris Dupin Thursday, October 18, 2012

Following the wind

When wind energy company Iberdrola Renewable completes construction of a North American wind farm, Red Arrow Logistics comes up behind to pick up unused supplies and materials and transports them to […]

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Chris Dupin Wednesday, October 17, 2012

Costamare raising $98 million

   The Athens-based containership chartering company Costamare Inc. said it’s selling 7 million shares of stock to raise funds for capital expenditures, including vessel acquisitions and other general corporate purposes, […]

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Chris Gillis Wednesday, October 17, 2012

Aden named Americold’s CFO

   Americold, a temperature-controlled warehousing and logistics provider to the food industry, appointed Allison Aden to executive vice president and chief financial officer.    In this role, Aden is responsible […]

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Chris Gillis Monday, October 15, 2012

FONASBA names Collins president

   Marygrace Collins, vice president of New York-based Bulkore Chartering, was elected president of The Federation of National Associations of Shipbrokers and Agents (FONASBA) at the organization’s 43rd annual meeting in […]

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Chris Gillis Friday, October 12, 2012

InterManager picks new president

   InterManager, an international trade association for in-house and third-party ship managers, has appointed Gerardo Borromeo to president.    Borromeo, who was elected unopposed at Thursday’s InterManager meeting in Copenhagen, […]

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