And the chilling effect of the tariffs is extending further down the calendar, with forwarders in the trans-Pacific saying US retailers are holding off making purchase orders with factories in Asia for fall and holiday merchandise for 30 to 60 days.
The latest Global Port Tracker demonstrates the uncertainty that has overtaken global supply chains since the White House’s announcement on tariffs a week ago.
The expansion of the semi-submersible and deck carrier fleet comes amid a forecast rebound in offshore markets, with $46 billion worth of oil and gas EPC contracts anticipated this year and $52 billion in 2026.