The coastal shipping freight in China experienced a varying pattern from 2013 to 2023. In 2023, the value stood at 5.7582 Trillion Tonne Kilometers. The period from 2018 to 2023 indicates a gradual upward trend in the coastal shipping freight values with a consistent but moderate increase each year, peaking at a year-on-year growth rate of 1.44% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years hovered around 2.09%, indicating a steady, albeit slow, growth trajectory.
Forecasts for the next five years predict continued growth, though at a reduced pace, with a projected CAGR of 1.02% and an overall growth rate of 5.22% by 2028. By 2028, the value is anticipated to reach 6.1428 Trillion Tonne Kilometers, suggesting a sustained but modest increase in coastal shipping freight.
Future trends to watch for include advancements in green shipping technologies, policy shifts towards improving maritime infrastructure, and growing competition with other modes of transport such as high-speed rail. Additionally, the impact of global economic conditions and trade policies will be crucial in shaping the future trajectory of coastal shipping in China.
