According to Maria Bertzeletou, a senior analyst at Signal Group, the global shipping sector is grappling with three significant challenges.
The industry is poised for stable growth through 2025, with Asia at the forefront. However, Bertzeletou highlights that US port fees on Chinese vessels, the push for greener practices, and the management of excess shipping capacity are raising substantial concerns within the market.
This situation unfolds amid escalating competition between the US and China for supremacy in trade, technology, and shipping.
Bertzeletou warns that the imposition of tariffs on Chinese shipbuilding products by the US could drive up construction costs, impacting global prices for new vessels and influencing shipowners’ future ordering decisions. She also emphasizes the dual focus on achieving environmental goals and addressing oversupply through an increase in scrapping activities planned for 2025-2026.
Geopolitical Tensions
Amid ongoing geopolitical tensions and the global spotlight on the Russia-Ukraine conflict, this year is set to mark a pivotal change that could significantly impact maritime trade and the global freight market, according to Bertzeletou.
*** The trade war between the West and Asia, particularly involving the United States and China, continues to disrupt global balances.
*** India, as a robust emerging economy, appears better positioned for the evolving landscape of global trade.
*** The current tariff conflicts are first affecting key markets for cereals and crude oil, which are vital components of maritime trade worldwide.
