U.S. Container Ports Report Surprising Growth Despite Tariffs

By Mike Wackett (The Loadstar) - Despite the escalating US/China trade war, the ten biggest US container ports posted a surprisingly robust 2.7% year-on-year import throughput growth in July, for a cumulative 1,865,645 teu. However, analyst John D McCown, of consultancy Blue Alpha Capital, still believes that the impact of tariffs on Chinese imports “will become dramatically … [Read more...]

Port of Hamburg Reports Strong First Half

The Port of Hamburg reported strong growth in the first half of 2019 with seaborne cargo rising by over 4 percent helped by the solid growth in general cargo. Germany’s largest seaport said it handled a total of 69.4 million tons, representing 4.1 percent growth in 1H 2019. Container volumes increased 7.5 percent to 4.7 million TEU. The port said it saw especially good … [Read more...]

Transpacific Rates Take a Tumble as Trade War Ripples Spread

By Alexander Whiteman (The Loadstar) - Efforts to push rates up on Asia-North Europe trades are still failing, and carriers are now also beginning to feel the pinch from the China-US trade wars. The Shanghai Containerised Freight Index (SCFI) today recorded spot rates for North Europe virtually unchanged, up just 0.2% to $812 per teu. While this modest increase will allay … [Read more...]

Maersk CEO Wants to Explain Free Trade to Trump

By Christian Wienberg (Bloomberg) -- The chief executive officer of the world’s biggest shipping line says he’d like to meet with U.S. President Donald Trump to explain the merits of free trade. Soren Skou, the CEO of A.P. Moller-Maersk A/S, delivered a set of quarterly results on Thursday that show his company has so far managed to ride out the trade war that’s raging … [Read more...]