By Michael McDonald (Bloomberg) - The trade tension between the U.S. and China is making waves at the Panama Canal. Cargo from the U.S. to China going through the key waterway has slumped this year as the Asian giant cuts its imports of American food and fuel, according to Panama Canal Authority CEO Jorge Luis Quijano. Amid the dispute, Japan has displaced China as the … [Read more...]
June Imports Down at Top U.S. Hub for China Trade
LOS ANGELES, July 11 (Reuters) - The Los Angeles and Long Beach port complex, the nation's busiest and the No. 1 for ocean trade with China, - handled 5.1%fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains. Imports to the smaller Port of Long Beach dropped 13.7% from June 2018, more than offsetting … [Read more...]
A Ship and Its Crew Gets Caught in US-China Trade Battle
By Bloomberg News (Bloomberg) -- Some of the people most eager to see a resolution in the U.S.-China trade conflict may be the crew of a ship circling in the East China Sea. The Amazon, laden with Canadian canola, has been travelling back and forth in the waters around Xiamen port for four weeks after leaving Vancouver on May 7, according to Bloomberg shipping data and a … [Read more...]
Trade War Concerns Impacting Shipping Confidence
Confidence in the shipping industry has fallen marginally over the past three months, largely as a result of ongoing concern over trade wars and increased regulation, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO. The average confidence level in the three months to May 2019 was 6.1 out of a possible maximum of 10.0. This … [Read more...]
Imports at Ports of Los Angeles and Long Beach Fall in May
LOS ANGELES, June 12 (Reuters) - The Los Angeles and Long Beach port complex - the No. 1 hub for U.S. ocean trade with China - processed 6.3% fewer inbound cargo containers in May, signaling that the escalating U.S.-China trade war is roiling business activity. Exports from the California seaport complex, the nation's busiest, fell 7.4% year-on-year, the two ports … [Read more...]