Car-Shipping Companies Plunge After Trump’s Latest Tariffs

By Alex Longley

Mar 27, 2025 (Bloomberg) –Shares of companies that haul cars across oceans plunged after President Trump widened his trade war with tariffs on vehicles not made in the US. 

Wallenius Wilhelmsen ASA lost as much as 9.1% in Oslo, falling to its lowest level since 2023. Hoegh Autoliners ASA shed as much as 7.4%. 

The niche sector for transporting cars by sea has witnessed a boom over recent years as a flood of exports from China ate up the supply of vessels. 

That had started to fade as new ships came onto the market and pent-up demand following the pandemic eased. Now, an escalating trade war and tariffs on vehicles are offering a further headwind. 

“All else equal, we expect car volumes going into the US to come down, negatively affecting seaborne volumes and thus also car carrier earnings,” Fearnleys Securities analysts including Fredrik Dybwad wrote in a note. 

© 2025 Bloomberg L.P.

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