Clarksons Research is optimistic that ships will be transporting more cargo this year after a fall in 2022 volumes.

The UK research company said that a range of economic headwinds resulted in a drop of 0.5% in global seaborne trade last year to 11.9bn tonnes.

“Though the world economy clearly retains vulnerabilities, as the recent banking sector turmoil illustrates, some of the negative trends have begun to moderate in early 2023,” analyst Trevor Crowe said.