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Muted maritime trade growth forecast through to 2027

Splash Extra: Muted maritime trade growth forecast through to 2027
November 30, 2022

Yesterday the United Nations Conference on Trade and Development (UNCTAD) published its keenly read Review of Maritime Transport 2022. The 190-page report covers seaborne trade, the world fleet, freight rates and port traffic among a host of other data points. For the period 2023–2027 UNCTAD is predicting maritime trade growth to expand at an annual average of 2.1%, a slower rate than the previous three-decade average of 3.3%.

One of the report’s authors, Jan Hoffman, head of UNCTAD’s trade logistics branch, commented on the trade forecasts: “This is certainly worrying for shipowners.”

The lead story in the November issue of Splash Extra delves into this forecast, seeking the expert opinions of analysts from BIMCO, Clarksons Research, Fearnleys, Maritime Strategies International, and Shipping Strategy on the muted seaborne trade growth coming up through the middle of the decade and beyond.

Elsewhere in the subscription title, there’s regular markets commentary on the main three shipping segments, the drivers this month in the sale and purchase market, while our columnist tackles the thorny issue of end of year bonuses.

Published on the last Wednesday of every month and priced for as little as $200 a year, Splash Extra serves as a concise monthly snapshot, ensuring readers are on top of where the shipping markets are headed. For more details on Splash Extra subscriptions, click here.