Americas News
Trump Win Would be Bullish for Tankers, Biden for Bulkers: VesselsValue
Shipping intelligence service VesselsValue has published an analysis of the US presidential election from the shipping industry's point of view, noting the two main candidates could have a very different impact on the various segments.
A win for President Trump would be more bullish for the tanker market because of his support for US crude production, VesselsValue said in a blog post last week.
"US crude production and export has undeniably been favoured by Trump," the company said.
"This has been beneficial to the tanker market because the largest importers of US crude are in Asia.
"Conversely, Biden has suggested policies as part of his campaign which could disfavour US crude exports."
But a victory for Joe Biden would be supportive for dry bulk and container freight, according to VesselsValue.
"The likelihood is that Trump will continue with the trade war, which could be bad for bulkers," the company said.
"Since 2018, dry bulk trades from the US to China have been much less consistent than in previous years, correlating with when Trump began setting tariffs on China, and vice versa.
"Trump's protectionist policies, especially against China, could be bad for the container market as Chinese container exports to the US are a major driver of container demand.
"Additionally, Biden's promise of higher stimulus levels should increase consumer spending and related container trading volumes."
