The U.S.-China trade row is escalating at the start of shipping’s peak season
Shipping rates from China to the U.S. West Coast were at a 48-week low in late May, according to data provider Freightos. Photo: mike blake/Reuters By Costas Paris June 4, 2019 12:28 p.m. ET
Shipping executives fear the trade fight will spread to Europe and add to a troubling global view that includes weakening manufacturing activity and faltering economic growth in major economies. Logistics data provider Freightos said its separate index showed shipping rates late last month from China to the U.S. West Coast at a 48-week low.
China’s Cosco Shipping Holdings Co., the world’s No. 3 liner company, had already cut its container capacity across the Pacific by 10% last August, with the trade route now making up 45% of its total capacity from 58% in 2016.
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