Shipping remains cautious on US-China trade deal
While box shipping is expected to experience a limited short-term spurt of activity from the signing of the ‘phase-one’ agreement, dry bulker players stand to enjoy the forthcoming surge in US agricultural exports to China. News about the deal also raises the prospect of the US lifting its sanctions against Cosco Shipping’s tanker units, which may result in a re-pricing of VLCC rates
Economists have expressed optimism by revising up the growth forecasts for both countries next year, but warned the deal should be treated with a dose of circumspection