Global trade war impacts shipping industry more seriously than expected
The chief shipping analyst at BIMCO said because trade wars between the US, China and EU were deteriorating, more market uncertainty were added.
The shipping industry will become worse in the long-term. It was reported that trade war has reduced market demand. Also, the oil price has soared. The global shipping industry has already undergone preliminary integration, but the suspension of certain routes and the cancellation of public offerings have shown that the situation was more serious than expected.
