Box traffic from China to the US has become a prominent casualty of the protracted US-China trade war, says Alphaliner.
The analyst claims containerised exports from China to the US have fallen 6.5% in the last five months – 3.87m teu compared to 4.14m teu in the first five months of 2018. And the situation is likely to deteriorate rapidly following the US imposition of higher tariffs, up from 10% to 25% on US$200bn of Chinese imports in May.
While China’s position as the largest exporter of boxed cargo to the US remains unchallenged, Southeast Asian nations are capitalising on the trade spat, particularly Vietnam, which has seemingly seen its exports to the US soar 30.7%, although some doubt has been put on this figure due to the discovery of Chinese goods illegally labelled as originating from Vietnam, according to the Vietnamese authorities.
The Port of Hong Kong has seen box throughput fall 7.3% during the first four months of the year. As a major transshipment port for goods from China to the US, Hong Kong’s throughput is likely to continue to suffer.