US President Donald Trump’s sharp increase in tariffs on Chinese imports brought activity at the Port of Shanghai to a near standstill last week.
According to the Asian publication Caixin, on April 7 and 8, nearly half of the vessels docked at Shanghai’s Yangshan and Waigaoqiao terminals were bound for the United States and racing against time to avoid the higher tariffs.
“Containers that missed the narrow window now sit idle in stacks along the docks. Many shippers are either pulling cargo back or scrambling for alternatives,” an employee at Cosco Shipping Holdings at the Yangshan terminal told Caixin.
The impact is clearly visible in altered sailing schedules, with many major carriers drastically cutting back on Transpacific routes.
Caixin further reports that MSC, the world’s largest shipping line, cancelled six voyages in April.
Ocean Network Express (ONE), one of three major Asian carriers in the Premier Alliance operating east-west routes, has informed customers that its PN4 service, originally scheduled to start in May, will remain suspended until further notice.
