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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.

FreightWaves Staff Tuesday, February 13, 2018

CEVA to go public?

The Hoofddorp, Netherlands-based third-party logistics provider will seek an initial public offering that would value the company at $1.5 billion by April, according to a report from the New York […]

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FreightWaves Staff Friday, February 9, 2018

SCFI slips 1.3%

While spot rates from Shanghai to Europe and the Mediterranean remained relatively unchanged since last week, rates from Shanghai to the U.S. trades had declined, according to the Shanghai Shipping […]

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FreightWaves Staff Friday, February 2, 2018

SCFI inches up 2.9%

Spot container rates from Shanghai to Europe, the Mediterranean and the United States all increased since last week, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI).

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