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‘Permacrisis’ was crowned word of the year by the editors of the Collins English Dictionary at the end of 2022, defined as “an extended period of instability and insecurity”. It seems an appropriate term to describe the state of global trade, finance, and supply chains as we enter 2023.

There is a growing sense of uncertainty and instability worldwide, and decision-makers are left wondering if this hazy state of affairs is here to stay.

The start of the year is often a time for reflection, setting resolutions and taking a forward-looking view of the months ahead. Mirroring my personal aspiration for a ‘damp’ January, the outlook for trade also appears somewhat damp (rather than dry January, I have opted for a reduction, rather than a full withdrawal of alcohol consumption this month). 

Predictions for 2023 hint towards a looming global recession, with inflation rates at their highest levels since the 1980s and the geopolitical situation remaining tense, spurred by the destructive escalation of Putin’s lingering invasion of Ukraine. 

Read more in the foreword for what’s in store for shipping in 2023.

Deepesh Patel, editor, TFG

Carter Hoffman, assistant editor, TFG



What’s inside this Issue?


Uncertainty in the high seas: how international trade can survive 2023


Trade volume, commodity and insurance predictions for 2023

African trade encouraged by improved 2023 country risk outlooks

13 common Letter of Credit and Bill of Lading frauds: Learning from the Solo 18 Industries and Saad Group fraud cases

How to use Incoterms® proficiently: risk, responsibility, and transfer operations

Updated digital trade rules: ITFA, URTEPO, and streamlining payment 28 obligations

Think data, not documents: advancing MLETR in 2023

Shipping and logistics in 2023

Shippers navigate a troubled market

UK Freeports: catalysts for regional economic development and recovery

The Times They Are a-Changin’: Navigating the new carrier landscape

India: A potential winner in the China supply chain crisis

Digitisation in shipping and logistics

Shifting the mindset towards innovation in ports

Ecosystems within the maritime industry: the changing styles of leadership

DeFi in Trade Finance: Fulfilling the promise of Globalisation

To agriculture and beyond: a look at how IoT technology is transcending industry silos

Three tech strategies for shippers in 2023

Shipping and ESG

What to expect in the shipping industry for 2023

Shipping in 2023: sustainability changes on the horizon