The United Nations Conference on Trade and Development’s (UNCTAD) annual Review of Maritime Transport indicates that total maritime trade volumes reached 10.7 billion tons in 2017, an increase of 411 million tons or 4 percent, half of which was dry bulk commodities. A similar 4 percent growth is anticipated this year. Global containerized trade increased by 6.4 percent in 2017. While the liner shipping industry saw further consolidation through mergers and acquisitions and global alliance restructuring. The three global liner shipping alliances that dominate capacity deployed on the three major east–west container routes (the 2M, Ocean Alliance and THE Alliance) collectively account for 93 percent of deployed capacity.