In theory, stock prices take into account future expectations. If so, shipping share prices imply that investors believe trade war fallout will be less severe than previously feared

There was investor euphoria last week with many believing US imports would skyrocket after US President Donald Trump brought down incremental China tariffs from 145% to 30%. The current view from the Port of Los Angeles is considerably less euphoric

The coast is far from clear for liner operators like Zim. Volumes are currently surging but more trade-war fallout could be around the corner, depending how US negotiations go with China and other Asian exporters

Headhaul routes saw strong growth, but backhaul volumes declined for a third consecutive month. As repositioning empty containers becomes more necessary, operational costs rise and supply chain disruptions become more likely; Container shipping investors are bullish about the bounce-back of China-US volumes following the US decision to slash tariffs; The China-US container trade has suddenly flipped from famine to feast. How long this lasts hinges on how American importers manage the remaining tariffs

Chinese shipyards won the majority of orders with French, Indian and Japanese shipbuilders also picking up newbuilding contracts in the past week

The argument for expanding shipbuilding and marine equipment production in the West is gathering pace, while high demand for new ships across most sectors will continue, despite a recent slowdown in orders

Wah Kwong executive chairman Hing Chao sees the IMO’s new carbon pricing agreement as a ‘strong signal’ that decarbonisation is now an irreversible global shipping trend that could enable China’s strategic role in scaling clean fuel supply chains, despite geopolitical tensions