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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 31, 2012

Longview gets new CEO

   The Port of Longview in Washington state has appointed Geir-Eilif Kalhagen to chief executive officer, effective Sept. 1.    He succeeds long-time executive Ken O’Hollaren.    Port of Longview’s […]

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Chris Dupin Friday, July 27, 2012

Burning concern

   As the United States prepares to begin enforcing its new low-sulfur fuel requirements for ships operating in coastal waters this month, experts are worried about the availability and cost […]

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Chris Dupin Friday, July 27, 2012

Franchised logistics

   Rick Campbell, chief executive officer of ICAT Logistics, said franchising is one of the fastest growing segments of U.S. business, and he also believes it’s an effective way to […]

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