Global Maritime Industry Year in Review

U.S. Naval Institute ^ | March 2026 | Dr. Shashi Kumar

[Retain Mike]

It became more complex in 2025 to own and operate an internationally trading commercial ship. The U.N. Conference on Trade and Development (UNCTAD) 2025 Review of Maritime Transport forecasted inhibited growth in global shipping, increased sailing distances, and elevated costs. Changing trade conditions led to frequent operational adjustments and fine-tuning of shipping routes. Geopolitical tensions and uncertain terms of trade punctured the rationale for interconnected markets advocated for by Ricardian economic logic and neoclassical economic theory. Global insurer Allianz remarked in its 2025 Safety and Shipping Review that the “volatile and complex operating environment” may alter even the long-term trend of declining shipping losses. (During the past decade, ship losses declined by 75 percent, according to Allianz data.) And yet, in maverick style, worldwide seaborne trade estimates for the year surpassed $35 trillion—a 7 percent increase from 2024.

---

TOPICS: Business/Economy
KEYWORDS: industry; maritime

[Retain Mike]

Each year U.S. Naval Institute publishes this summary of shipping including tankers, liners, bulk carriers, etc.

[Maine Mariner]

An excellent article by my former colleague. He holds a Ph.D. in maritime studies (economics?) from the University of Wales in Cardiff.

He was also an usher at my wedding! :)