MPC Container Ships warned of an exceptionally high degree of uncertainty around the sector amid continued jostling between the US and China.
Oslo-listed MPC said the impact of any trade tension was felt regardless of whether firm action followed political rhetoric.
The comments came as the feedership specialist booked a deeper than forecast loss for the first quarter.
MPC explained the red ink came at a time asset values have slipped and are yet to respond to the latest upturn in freight rates.
It said the economic environment remained challenging with container shipping demand growth forecasts for this year downgraded to 3.6% across research institutions.
“Container shipping continues to face an exceptionally high degree of uncertainty, ranging from the additional costs associated with the January 2020 implementation date of the International Maritime Organization’s sulphur emission cap regulation to the possibility of a trade recession, in particular due to ongoing US-China tensions,” it said.
MPC added: “Trade tariffs and the threat thereof will remain a key issue in 2019.
"Even threatened measures can have real effects by increasing uncertainty and discouraging investments.
“The implications of a major trade war between China and the United States are likely to go far beyond trade barriers, as they will affect a number of industries globally and could well lead the global economy into recession.”
MPC Container Ships booked a loss of $7.71m for the quarter, against a modest profit of $500,000 at the same stage in 2018.
Analysts at Arctic Securities said results were on the soft side, with core operating profit of $4.7m below the $8.9m forecast.
“The company will maintain a low cash break-even, prudent leverage profile, and capital allocation going forward,” Arctic said.
“Moreover, MPCC is positioned to benefit from expected market improvements, while ensuring stable maneuvering in the current market conditions.”
