Cranes load containers onto ships at the Port of Los Angeles in Los Angeles, California, US, on Thursday, March 6, 2025.Photo:VCG

The United Nations Conference on Trade and Development (UNCTAD) on Wednesday cut its maritime trade growth forecast, saying tariffs and conflicts are disrupting global shipping.

This is the latest assessment from a leading global industry forecast on the damage caused by tariffs.

According to UNCTAD projections, maritime trade volume is expected to expand by 0.5 percent in 2025, with containerized trade increasing by 1.4 per cent.

This is a downward revision compared to earlier forecasts, and the report said it reflects factors including weaker prospects for industrial activity in major economies, and tariff measures.

UNCTAD noted that the outlook for 2025 points to more modest growth, or even stagnation, in both overall volumes and ton-miles. 

"The introduction of tariff measures … has been a pivotal factor influencing the 2025 trade outlook. These contributed significantly to the downward revision," according to UNCTAD.

Political tensions, new tariffs, shifting trading patterns and reconfigured shipping lanes are reshaping the geography of maritime trade, UNCTAD summarized.