Global shipping growth at risk from economic gloom

The pace of global shipping activity is set to lose steam next year as economic turmoil, conflict in Ukraine and the impact of the pandemic weaken the outlook for trade, Qazet.az reports according to U.N. agency UNCTAD.

The world's largest investment banks expect global economic growth to slow further in 2023 following a year roiled by Russia's invasion of Ukraine and soaring inflation.

The slowdown is expected to impact shipping, which transports more than 80% of global trade, although tanker freight rates could stay high.