US President Donald Trump’s soaring tariffs on Chinese imports brought activity at the Port of Shanghai to a complete halt last week.
According to Asian online publication Caixin, on April 7 and 8, nearly half the vessels docked at Shanghai's Yangshan and Waigaoqiao terminals were bound for the US and racing against the clock.
“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, according to an employee at shipping giant Cosco Shipping Holdings at Yangshan terminal,” the report reveals.
The impact is evident from the altered sailing schedules, with many major carriers drastically cutting back on Transpacific routes.
Caixin 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, which operates on east-west routes, has advised customers that its PN4 service, scheduled to commence in May, will remain suspended until further notice.
