Container shipping sees signs of a bottom (at least, for now)
Jefferies’ Omar Nokta believes container shipping investors are starting to look toward “the end of the destock and beginning of the restock.”
We'll notify you right when a major story breaks.
Enable notifications to stay up-to-date.
Stay Up to Date on the Cargo Shipping Industry
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.
Jefferies’ Omar Nokta believes container shipping investors are starting to look toward “the end of the destock and beginning of the restock.”
Small-package shippers should consider stepping outside the norm to modernize their logistics strategy by evaluating alternative carriers.
More Western tankers are jumping into the Russian trade — legally, under the price cap — to pocket big freight premiums.
“Simply put, there’s no bigger priority right now than this contract agreement,” says Gene Seroka of the Port of Los Angeles.
Although import volumes show signs of a nascent recovery, the inventory overhang remains daunting.
First-quarter numbers from container lines Cosco, OOCL and Evergreen show lingering upside from the tail end of the boom.
After labor unrest closed Los Angeles and Long Beach on Friday, ports on the East and Gulf coasts look even more attractive.
Worsening China-U.S. relations underscore how pivotal geopolitics has become to global shipping and trade.
American shipping magnate believed in efficiency and economies of scale in operating the world’s largest ships.
Despite a collapse in freight rates, container shipping is not behaving like an industry facing an imminent crisis.