global shipping industry stays on an even keel despite waves of uncertainty from us-china trade war
The China trade war has not yet brought a huge impact to shippers in the world, who transport everything from soybeans to industrial machinery between the two countries.
The Baltic Dry Goods index, which measures shipments of commodities such as grain and coal, has risen nearly 80 since trade tensions intensified in April, ending the first US tariff that came into effect on July 6.
In fact, the index is 52-
With the second round of tariffs hit a new high this week.
In addition, executives of several shipping giants reporting revenue over the past two weeks claim that, despite their cautious attitude towards the growing trade war, they have so far not yet had to tear down their hatch.
However, as US President Donald Trump plans to impose tariffs on another $200 billion of Chinese goods as early as next week, concerns about possible abandonment of shipping operators may increase, bloomberg reported Thursday.
Trump recently said he did not have a \"timetable\" for ending the dispute \".
Meanwhile, Trump\'s campaign against what he sees as unfair global trade policies has spread to other countries, prompting the EU to impose retaliatory tariffs on American whiskey and Harley whisky
The United States imposes a new tax on foreign motorcycles
Make steel and aluminum and threaten to impose tariffs on cars made by overseas automakers.
The global shipping industry shipped $2.
According to the Bureau of Transportation Statistics, in 2016, 19 trillion of products were shipped to the United States, and almost half of the goods were imported by boat to the United States.
According to the US Census Bureau, China is by far the largest trading partner of the United States, exporting about $505 billion of goods to the United States last year.
Those who can feel the pressure in the second half of the year include the country --
It has China COSCO Shipping Holding Co. , Ltd. and Denmark A shipping company. P. Moller-
Maersk in Japan and abuen Kabushiki Kaisha in Japan.
But industry insiders and analysts say there is reason to hope that the global shipping industry built around shipping companies, port operators and manufacturers of ships and cargo containers will be able to get through the trade war to a large extent.
Trump said that the United States will not talk to China about a trade war now, goods will still be transported between China and the United States, consumers bear the cost of higher prices, not shippers.
If higher prices reduce demand, causing buyers to scramble to find other sources, such as South East Asia, the shipper is still needed to transport the goods.
Some even argue that a trade war could force product buyers to use inefficient routes to try to bypass tariffs or get new sources, thereby increasing shipping operations.
\"The impact of these tariffs on global trade is uncertain, depending on how much of the resulting price increases are absorbed by consumers, and to what extent the United States and its trading partners can diversify imports, Maersk said: \"This has a broader impact on business confidence, investment and supply chain. \"
Quarterly results announced.
Maersk said that if the trade war were to escalate, its US containers imported from China could be reduced by up to 4 cents, while China\'s container imports of US goods could be reduced by up to 6 cents.
Tariffs are only a clear weapon of Donald Trump\'s trade war with China. Danish shipping companies say container demand for the East
In the second quarter, Western trade routes softened as North American imports slowed \"after unsustainable high growth in 2017.
\"Driven by 5, the average shipping cost for its marine portion has also declined.
Interest rates in the eastern region fell by 1 percentage point
The company said the Western trade route.
Maersk warned that global trade could fall by 0. 1 to 0.
The rise in trade tensions accounted for 3 per cent.
Japan\'s Yousen said container transport demand remained strong in the first quarter of June, but the completion of some large new ships led to the stagnation of spot freight recovery.
The Japanese company says the volume of coal, grain and other dry bulk shipments has increased.
Washington\'s \"tough line\" did not help resolve the trade war. On Thursday, Beijing warnsCosco Shipping said that growing trade protectionism, including trade disputes between the United States and China, it will \"curb global economic growth to a certain extent\", but it expects global economic growth to continue to help use the volume of shipping containers.
Bank of America Merrill Lynch said that China\'s export growth to the United States remained resilient in July, but that US imports to China grew less this year than China\'s overall import growth.
\"After US President Donald Trump announced plans to investigate China\'s exports last summer, China may begin to shift its import demand for the United States,\" said Zhi Xiaojia, an economist at the World Bank\'s Greater China region, said in a research report.
\"In particular, China imports American vegetable products (
14-year contract-over-year in [
First half of 2018]
Although China\'s total imports of vegetable products increased by 8.
\"The same period is 4%,\" she said . \".
\"In addition, the share of the United States in other commodity markets is also declining (
Such as meat, chemicals, wood)
Although China\'s share of oil imports has increased, China\'s transport products have also increased.
\"Who could be hurt by the aftermath of the United States --China trade war?
Analysts said the outlook for Singapore, Taiwan, Malaysia and other countries was further disrupted by concerns about rising interest rates and currency fluctuations. Anti-
Globalization, including US trade protectionism, \"will bring more uncertainty to the global trade recovery and threaten global economic growth,\" China International Shipping Group, the world\'s largest container manufacturer, A recent warning.
According to the Shenzhen-based company, trade growth has slowed slightly but is still at a relatively high level.
The company said rising oil prices could also reduce the performance of its shipping company customers.
\"This will affect the customer\'s willingness to buy containers to a certain extent,\" the company said . \" The company received 37 revenue from container manufacturing in the first half of this year.
\"However, demand for containers is expected to remain relatively high throughout the year.
Viewpoint: The trade war has triggered the ghost of \"China\'s collapse\", and Beijing should worry about Singapore container company, the world\'s second largest container company.
Seng Siong Seng, the largest container manufacturer, said that escalating tensions did not significantly affect trade, but that customers were \"looking at it very carefully \", chairman and chief executive of Singapore container Holdings.
\"Whether it\'s shipping companies, leasing companies or other companies, customers are very cautious about these trade tensions,\" Teo said . \" He added that some customers in Hong Kong --
The company at headquarters postponed the order.
Trade experts say ongoing disputes could eventually become disputes in other parts of Asia, as companies assess whether to move some of their operations to existing facilities or build new manufacturing plants. Zhang Wei, deputy
Chairman and Managing Director of Hong Kong-
COSCO-based shipping ports say trade conflicts, coupled with China\'s long term
A long-term national strategy for industrial upgrading could lead to the attraction of trade from China to Southeast Asia and South Asia.
\"We are looking closely at how freight volumes may change or shift and may seek potential investment opportunities in these areas,\" he said . \".
Laura Ho\'s supplementary report on this article keeps the global shipping industry stable despite a wave of uncertainty in the US --
China\'s trade war first appeared in the South China Morning Post, getting the latest news from the South China Morning Post to download our mobile app. Copyright 2018.