Shipping Is Looking to Benefit from the US-China Trade Agreement

Shipping Is Looking to Benefit from the US-China Trade Agreement
25/01/2020

The shipping industry has been looking forward to a trade deal between the US and China for quite some time now. As a result, the latest positive development is expected to boost the fortunes of both the dry bulk and the tanker markets, but also to increase demand for vessel acquisitions among shipowners.

In its latest weekly report, shipbroker Intermodal said that “it seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticipated deal between the two countries, everyone in the shipping industry is currently trying to assess the impact in the different shipping sectors. The first phase of the agreement signed last week reduces tariffs but only for a percentage of imports, with the majority of the imported and exported goods from either country retaining the previously imposed tariffs at the same levels. US exports of agricultural cargoes, crude oil, LNG, and refined products are set for an increase in the next two years given that the agreed figures will be imported by China”.

more...https://www.hellenicshippingnews.com/shipping-is-looking-to-benefit-from...