Between 2013 and 2023, the UK coastal shipping freight industry saw substantial fluctuations, declining from 28.0 billion tonne-kilometers in 2013 to 19.74 billion tonne-kilometers in 2023. Notably, the highest annual reduction was in 2017 at -18.56%, and the overall trend from 2013 to 2023 shows a consistent decline with an average annual decrease (CAGR) of -3.01%.
Future forecasts from 2024 to 2028 indicate the continuing downward trend in coastal shipping freight, reaching 13.63 billion tonne-kilometers by 2028. The forecasted average annual decline rate (CAGR) for this period is -5.92%.
Trends to watch for in the future include:
- Economic factors impacting trade volumes.
- Technological advancements in shipping efficiency.
- Environmental regulation impacts on maritime transport.
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