For the ocean shipping business today, it’s tough enough navigating the rough waters caused by economic cycles. But do carriers sometimes make their own waves?
China, dubbed ‘the workshop of the world’ for its sprawling supply chains and huge export capacity, is hoping to manufacture something new this week at a huge trade fair in Shanghai: import orders.
A common theme this earnings season: U.S. business executives are ready to relocate their supply chains if the cost of importing Chinese goods becomes prohibitive.
The cost of hiring container ships has plunged 24 percent from a multi-year peak while raw material vessel rates have slumped 10 percent from a five-year high.