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...The head of family-owned CMA CGM, the world’s third-biggest container shipping group, Saadé was little known outside the industry until the pandemic brought billions in windfall profits and he started following...
...“It could have wider ranging consequences not only for the industry but for end consumers, product availability, the global economy as a whole,” he added....
...this by shipping parts through countries such as Mexico and Vietnam....
...More than 80 per cent of the world’s container shipping capacity is controlled by nine companies, including China’s Cosco and Switzerland’s Mediterranean Shipping Company, according to data provider Alphaliner...
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...The shipping industry seems set for cyclical pain. On top of that, it faces a structural headwind....
...China still remains by far the “stronger producer across all industries”, and its production and transport infrastructure is unmatched compared with those in most south-east Asian countries, said Andrea...
...“The United States is alarmed by mounting evidence that [China] is solidifying its presence and exerting influence over an industry critically important to the US economy,” the letter said....
...The disruption comes at a particularly sensitive time, notes Philip Damas of Drewry Shipping Consultants, with China’s producers rushing to get goods to Europe before they shut for Chinese new year....
...Two of the world’s biggest container shipping lines have announced a new partnership, in a major reshaping of the industry’s commercial relationships....
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
...Not only does it have the potential to reignite the US-China trade conflict, but it will also increase the focus on China’s growing military might and the massive commercial shipping industry that underpins...
...But that is still a level of oversupply similar to the previous industry slump experienced before 2019....
...The dispute has its origins in a £10mn investment that Restis, who has been a leading figure in the shipping industry for about two decades, made in Staveley’s business ventures in 2008....
...industry that underpins it....
...The shipping industry is stepping up efforts to build steel containers outside China, lining up the spare capacity needed to shield a key component of global trade from supply chain pressures and geopolitical...
...China is shipping more goods to the US via Mexico, circumventing steep tariffs imposed by the Trump administration and retained by Joe Biden’s White House, according to a Financial Times analysis of trade...
...The shipping industry is heavily exposed to geopolitical ructions and swings in freight rates, which soared at the height of the Covid-19 pandemic when aeroplanes were grounded and ports jammed....
...Dominguez also expressed admiration for how the shipping industry had coped with the security crisis around the Red Sea. “Shipping continues to be resilient,” he said....
...The shipping industry had not yet come around to the idea that it would have to pay for sophisticated advice in the long term, he said....
...Other parts of the shipping industry have been able to charge customers extra after diverting via the Cape....
...According to Clarksons, the shipping services group, long-distance seaborne car shipments in 2023 were 17 per cent higher than the previous year, largely because of big increases in exports from China....
...Chinese lines’ move to the Red Sea comes after most big container shipping lines — including China’s Cosco, operator of the industry’s fourth-biggest fleet — abandoned the southern Red Sea because of the...
...In 2019, some 2mn Chinese tourists took a cruise, compared with 14mn people from the US, according to the Cruise Lines International Association, an industry trade body....
...The administration noted that while increasingly complex systems at ports of entry had “revolutionised the maritime shipping industry and American supply chains by enhancing the speed and efficiency of moving...
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