Port congestion in Europe seen pushing up shipping rates in US, Asia

Port congestion is worsening at key gateways in Northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Some of the impacted ports are Bremerhaven, Antwerp, Hamburg, Rotterdam and Felixstowe, as per reports. Compounding the constraints is Trump’s temporary rollback on 145% tariffs on Chinese imports, which has surged shipping demand between the world’s largest economies. Adding to the pressure, the Transpacific Eastbound trade is showing signs of an early peak season, fuelled by a 90-day pause in US-China tariffs, set to expire on Aug. 14, as per a report.

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