Uncertainty is dominating the global maritime industry as the trade war between the U.S. and China unfolds. Industry executives have said they are unable to plan ahead because the situation is constantly shifting.

Lauritzen Bulkers’ interim CEO, Jacob Winthereik, said that with new tariffs being announced or changed almost weekly, there’s no sign of stability ahead.

Lars Jensen, CEO of Vespucci Maritime, described the situation as “customs uncertainty at an unprecedented level”, and pointed out, “It is currently impossible to plan the supply chain when it comes to trade flows with the U.S., and shippers, forwarders and carriers are forced to act from a short-term tactical perspective.”

Ocean carrier Hapag-Lloyd stated that “tariffs can affect demand, trade flows and costs” while adding more instability to the situation. The fear of a recession and global trade war has alarmed investors, causing them to pull out of shipping stocks.

Source: ShippingWatch