Seaspan CEO: US-China trade spat will not rock boat

Hong Kong container shipping firm has amassed $1b of investment from Fairfax Financial for acquisitions in a sector ripe for consolidation; signalling confidence even as trade tensions ramp up.

The world’s largest independent containership owner-operator, Seaspan Corp., is upgrading its fleet and plotting acquisitions, a sign of confidence the sector can ride out the US’s renewed trade offensive against China.

Shipping companies’ share prices have been roiled by rising tensions between the superpowers. On March 22 the White House moved ahead with tariffs against China, less than two weeks after both sides agreed a truce.

The move could escalate into a global trade war. “A contraction in global trade would likely result in reduced container throughput that would lower demand for container and containership leasing,” said credit rating agency Fitch in a March report...

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