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.
Speculation is swirling on how the end of a global container shipping alliance will affect ocean carriers and cargo shippers.
Shipping services around the globe will be reconfigured after the top two carriers end their vessel-sharing agreement.
Are falling commodity shipping spot rates the result of normal seasonality or a symptom of global economic malaise?
American imports remain a tale of two coasts, with continued strength in container volumes headed to Atlantic ports.
Imports continue to decline and are close to where they were before COVID-19, but the coastal mix is very different.
Sanctions on Russian crude exports have yet to boost tanker rates. Some question whether sanctions on Russian diesel will either.
The East and Gulf coasts combined have overtaken the West Coast in port market share, but there are limitations the East needs to deal with, said panelists at a meeting of the Transportation Research Board.
Remaining queues of waiting ships are dwindling, another sign that supply chain pressure is winding down.
The top 10 liner operators hiked aggregate capacity by 13% in 2000-22 and continue to control 85% of the global fleet.
As cars gained popularity, ships were converted and built specifically for transporting vehicles overseas.
