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%.
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Phil Cowan has returned to shipping accountant and consultant Moore Stephens as head of corporate finance. He was most recently group chief financial officer of V.Group Ltd. and […]
ChemLogix, a provider of chemical industry transportation management, technology, and supply chain consulting services, has promoted Ed Hildebrandt to senior vice president of business development. “Ed has been […]
Inchcape Shipping Services has set up a new regional team for its Europe and North Africa operations. ISS recently reduced its world operation from eight regions to four, […]
Horizon Lines, a U.S. domestic ocean shipping company, was recognized by the Chamber of Shipping of America (CSA) for its safety record, as well as for the rescue earlier […]
The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service has created a new Website to provide importers with information about the commodity import approval process for plants […]
The order comes on top of an early FedEx annoumcement to buy 27 new B767s for delivery between fiscal 2014 and 2018. It also plans to purchase another 24 B777s to add […]
A judge in Longview, Wash., declared a mistrial Friday after six jurors could not reach a verdict in a trial involving Robert McEllrath, president of the International Longshore and Warehouse […]
Matson, Inc. said its stock began trading on the New York Stock Exchange today under the ticker symbol MATX, following the separation of Alexander & Baldwin Holdings, Inc. into […]
Canadian Pacific Railway named Hunter Harrison president, chief executive officer, and a member of its board of directors. Until Dec. 31, 2009, he had served as head of competing railroad […]
UN Group adopts new draft cargo convention
