Donald Trump’s victory in the US presidential race has stirred debate the world over.
Here top shipping executives share their thoughts on what a Trump-led US may mean for the global maritime industry.
Keep up to date with all the latest US election news and reaction here.
Jan Rindbo, chief executive of Norden:
"Donald Trump has made some anti-globalisation and anti trade remarks that as an industry are concerning as we live off global trade, which has lifted a lot of people out of poverty around the world.
"Some of the remarks that have been made during this election are a little concerning in that regard. There just seems to be increased protectionism mood and that is not good for global trade and not good for shipping."
George Xiradakis, President of the Piraeus chapter of the Propeller Club and chief of shipping finance consultancy XRTC:
“Nobody wins elections nowadays without a dose of populism. I don’t believe Trump will do any of the dangerous things he said he would.
"Yes, he will try to tweak free trade in favour of the US. This might possibly lead to some change to trade patterns but it will not reduce trade volumes.”
Herbjorn Hansson, chief executive of Nordic American Tankers:
“We ought to expect the unexpected. It is almost like the tanker business. For us it will have little consequences. If the oil prices fall, it will be an advantage for Nordic American
“When things settle down, I believe this will be ok. One thing is what you say, another what you do.
“The US is undoubtedly the world’s strongest society; stronger than the Americans think themselves. There is no room for adventures politics, the self-regulating forces are strong.”
Christian Andersen, president of Avance Gas:
"I don’t think there will be any impact on LPG. On a broader view he has a more isolationist modus than the current president and what Hillary had, so you see a potential that world trade would be slightly reduced."
Marco Fiori, chief executive of d’Amico International Shipping:
"One thing is running a campaign and a second thing is when you get elected to office. Your agenda changes dramatically from day one.
"He is going to face the same problems as his predecessors and probably he will have to come out with similar solutions – there are not that many tricks he can pull out of the box.
"He will have a cabinet and there will be responsible people around him. Then more normal ideas will prevail – I hope so at least."
Andrew Hoare, chief operating officer of Navig8 Asia:
“With the election of Trump I can see a lot of volatility returning to the market, which for shipowners like us and for traders could make for very interesting times.”
Harry Vafias, chief executive of StealthGas:
"Generally speaking people like stability and systemic candidates, as Hillary was. People are afraid of the unknown and the unknown was Trump.
"Personally I think that Trump will do fairly well as he is a clever individual and had managed through his personal financial problems relatively well in the past.
"So from my side no worries at all and at least now that the president has been elected it takes a big unknown out of the market."
Keep up to date with all the latest US election news and reaction here.
Rystad Energy vice-president Bjornar Tonhaugen:
“The oil markets generally don’t like uncertainty and especially if the outcome of goes against the news flow leading up to it. This is somewhat similar to the Brexit reaction.
“Trump will probably be much more positive toward even the old energy, like coal, which could be positive on the margin for US oil extraction but it remains to be seen what policies he can get passed.
“Middle East policy and increased tension can be something that can trigger more bullish oil prices due to the supply risk but it is hard to speculate on that now."
Ben Nolan, analyst at Stifel & Co:
“I was expecting the capital markets to sell off. The futures were certainly indicating that to be the case. But (US equity markets) are up a touch, and not very volatile.
"I suppose that reflects the fact that Republicans kept majorities in both the House and Senate. Maybe that means more stability going forward.”
Ralph Leszczynski, chief analyst at brokerage Banchero Costa (Bancosta):
“To be honest I don’t think it’s going to really affect US foreign policy or how the economy is run.
"We could see less of a push against oil and coal than we have seen under Barack Obama."
Keep up to date with all the latest US election news and reaction here.
