Many in maritime see the ongoing US-China trade war as detrimental to shipping, but not everyone shares that view.
Global Ship Lease executive chairman George Youroukos said it is "beneficial" for boxships Tuesday at Capital Link's Maritime Forum in New York, reiterating what he said at a New York Capital shipping forum six months ago.
"My view is a bit controversial," he said as a panelist on boxships.
"Trade wars, net-net, have been very positive for the containership industry."
He said shipping volumes have increased between other countries while US-China trade has fallen only to 3.25% from 6.5% of total boxship volume worldwide.
Further, negative sentiment over the trade war has tightened supply, causing charter rates to rise, he said.
"This story is a supply story," he said.
The US-China trade war, which began in early 2018, may decelerate as both countries look toward a "Phase 1" trade deal.
