By Christian Wienberg (Bloomberg) -- The man running the world’s largest container-shipping company says he has access to data that shows Donald Trump has so far failed to wean the U.S. off Chinese imports. Soren Skou, the chief executive of A.P. Moller-Maersk A/S, says Chinese exports to the U.S. actually grew 5-10 percent last quarter. Meanwhile, U.S. exports to China fell … [Read more...]
Maersk Warns Trade War Will Hit Container Shipping
By Jacob Gronholt-Pedersen COPENHAGEN, Nov 14 (Reuters) - Top U.S. importers are stocking up on Chinese goods before new import tariffs take effect, shipping giant A.P. Moller-Maersk said on Wednesday, but warned a trade war would hit demand for container shipping in the coming years. Maersk's data indicated that imports into the United States from China had grown 5 to 10 … [Read more...]
Soy Trade Goes Topsy Turvy as Major Exporter Turns to Imports
By Kevin Varley and Shruti Date Singh (Bloomberg) -- The world of soybean shipping has turned upside down thanks to the ongoing U.S.-China trade war. Argentina, the No. 3 global soy grower, is making major purchases of U.S. supplies. A weekly measure of American shipments to the Latin American nation just rose to the highest in at least 35 years, U.S. government data showed … [Read more...]
Shipping Remains ‘Cautiously Optimistic’, But Wary of Protectionism
By Alex Lennane (The Loadstar) - Protectionist trade policies are continuing to spook the global maritime sector, although a newly released report suggests the industry has “cautious optimism”. The Navis Business Bellwether report, conducted by Business Performance Innovation (BPI), surveyed more than 174 maritime executives on expectations and fears for the coming … [Read more...]
Trump Said to Ask Cabinet to Draft Possible Trade Deal With China
By Jenny Leonard, Saleha Mohsin and Jennifer Jacobs (Bloomberg) -- President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key U.S. officials to begin drafting potential terms, according to four people familiar with the matter. The push for a possible deal with … [Read more...]