Did not realize that this would affect shipping so much. From Bloomberg:
Tariffs Make Life Even Tougher for World’s Biggest Shipping Company
A.P. Moeller-Maersk A/S may struggle to make a profit this year after the U.S. and China descended into a trade war that promises to hurt the world’s biggest shipping company.
Maersk, which is based in Copenhagen, has already lost almost a third of its market value this year as investors gird for more bad news. Trade protectionism means less demand, and history suggests the shipping industry will struggle to make the necessary supply cuts. What’s more, Maersk is now more exposed to shipping as the former conglomerate divests its energy business.
Per Hansen, an investment economist at Nordnet in Copenhagen, says Maersk is currently “in the eye of the hurricane” when it comes to the damage that will be inflicted by a trade war. He estimates the company’s shares could drop at least 10 percent.
Sheesh - has not seemed to affect the Baltic Dry Index though. Back in February of 2016, it cratered to below 300 - today it is over 1,600. Overall shipping seems to be up too as the Port of Long Beach California just had their busiest month ever.
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