Container liners are starting to sever shipping routes that link the U.S. and China across the Pacific, as President Donald Trump’s trade war upends the industry and forces the two largest economies apart.
Among signs of disruption are plunging fees, fewer services and a pall of uncertainty over what for decades has been one the main maritime highways of the global economy, carrying manufactured goods and vital commodities.
German container shipping group Hapag-Lloyd AG has canceled 30% of China-to-U.S. bound shipments, according to a spokesperson. Separately, Swiss liner Kuehne + Nagel International AG said some trades had stopped completely, while it expected a 25% to 30% drop in bookings from China to the U.S., Chief Executive Officer Stefan Paul told investors on a conference call.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.