The dry bulk shipping market may experience a downturn in 2023 that will last until 2024

Last year's shipping performance was booming, mainly due to the conflict between Russia and Ukraine and the subsequent reshaping of global maritime energy transportation. But the shipping market is not as glamorous as it appears on the surface. Shipping companies have been plagued by problems like port congestion, lack of skilled workers, and soaring inventories have reduced warehouse space, terminal rules for loading and unloading containers, late container fees, and canceled flights.