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Trade war to further hurt Asia Box-Shipping rates to U.S

Hopes are diminishing for a pickup in container shipping rates from Asia to the U.S. as global trade tensions escalate, according to Bloomberg Intelligence.

China said last week it would match a decision by the U.S. to impose tariffs on some goods imported from the Asian Country starting July — that’s when the box-shipping industry’s peak season typically begins as retailers stock up ahead of the year-end holidays.

 Container shipping rates to Los Angeles, the biggest U.S. Port, from Shanghai fell 4.5 percent in the week ended June 14, the most in 11 weeks, while those to Rotterdam dropped 1.1 percent.

The trade war between the US and China, analysts observe, would weaken the world’s two largest economies and besides souring up the bilateral relations between America and China, it would crimp global growth. Ultimately, this mutual imposition of tariffs on the products of the other will end up the customers paying more, customers of both the countries.

Again, the effect of the riskiest trade war on the shipping industry too will not be positive.

 

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