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.
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