Bulker and container stocks fell sharply on Tuesday morning after US tariffs against Canada, Mexico and China took effect.
Norwegian investment bank ABG Sundal Collier said the escalating trade war is negative for containers and dry bulk.
“The additional US tariffs on Chinese goods is a negative to the container trade, while the response from China will mainly impact US dry bulk exports, in particular soybeans, in which China imports approximately half of US exports,” analysts said in a note.
