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Yahoo
26-05-2025
- Business
- Yahoo
Shipping Bottlenecks in Europe Send a Warning to US, Asia
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77% in Bremerhaven, Germany, between late March and mid-May, according to the report Friday from Drewry, a maritime consultancy in London. The delays rose 37% in Antwerp and 49% in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labor shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145% tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fueled by a 90-day pause in US–China tariffs, set to expire on Aug. 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd AG, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control.' Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30% tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. EU-US Dispute US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came Friday, when Trump threatened to hit the European Union with a 50% tariff on June 1. He reversed course over the weekend, agreeing to extend that deadline to July 9 after a phone call with European Commission President Ursula von der Leyen. With just over six weeks until higher tariffs potentially kick in, transatlantic cargo volumes should get a boost because 'shippers have an even higher incentive to move whatever they can to the US before it hits,' said Emily Stausbøll, a senior shipping analyst at Xeneta, a digital freight platform based in Oslo. The added policy uncertainty 'will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note Friday that 'additional tariffs of 50% would likely reduce EU exports to the US for all products facing reciprocal duties to near zero — cutting total EU exports to the US by more than half.' GLOBAL REACT: What Trump's 50% Duty Threat Means for 'Nasty' EU Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping Co., the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. Avoiding 'Massive Congestion' On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' --With assistance from Richard Bravo. (Adds comments on transatlantic cargo in 11th paragraph) Why Apple Still Hasn't Cracked AI How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul ©2025 Bloomberg L.P. 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Malaysian Reserve
26-05-2025
- Business
- Malaysian Reserve
Shipping bottlenecks in Europe send a warning signal to US, Asia
PORT congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77% in Bremerhaven, Germany, between late March and mid-May, according to the report Friday from Drewry, a maritime consultancy in London. The delays rose 37% in Antwerp and 49% in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labor shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145% tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fueled by a 90-day pause in US–China tariffs, set to expire on Aug. 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd AG, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control.' Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30% tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came Friday, when Trump threatened to hit the European Union with a 50% tariff on June 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note Friday that 'additional tariffs of 50% would likely reduce EU exports to the US for all products facing reciprocal duties to near zero — cutting total EU exports to the US by more than half.' Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping Co., the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' –BLOOMBERG
Straits Times
25-05-2025
- Business
- Straits Times
Shipping bottlenecks in Europe send warning signal to US, Asia
US tariffs – combined with sudden threats and truces – make it difficult for shippers to calibrate their orders, causing unseasonal swings in demand. PHOTO: REUTERS LONDON – Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the United States and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report on May 23 from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fueled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hapag-Lloyd, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control.' Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on May 25 that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Mr Slok wrote. US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on May 23, when Mr Trump threatened to hit the European Union with a 50 per cent tariff on June 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on May 24. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on May 23 that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half.' Mr Trump on May 25 said that he pause his 50 per cent tariffs against the EU until July 9 as trade negotiations continue. But mounting uncertainty about whether he would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping Co., the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. On the webinar, Mr Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Mr Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
25-05-2025
- Business
- Business Times
Shipping bottlenecks in Europe send a warning signal to US, Asia
[LONDON] Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report on Friday (May 23) from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fuelled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago has not yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. EU-US dispute US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on Friday, when Trump threatened to hit the European Union with a 50 per cent tariff on Jun 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on Friday that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half'. Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping, the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. Avoiding 'massive congestion' On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG
Business Times
25-05-2025
- Business
- Business Times
Europe's shipping bottlenecks expected to persist into July
Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report last Friday (May 23) from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific east-bound trade is showing signs of an early peak season, fuelled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd, said on a webinar recently that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. EU-US dispute US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on Friday, when Trump threatened to hit the European Union with a 50 per cent tariff on Jun 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on Friday that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half'. Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping, the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG
