Industry Insights

Kyriacos Panayides CEO, AAL Shipping

“We have already seen the negative impact on the global economy from the recent tariffs announced in early April, with stock markets falling. While there has been little impact thus far to our immediate operations, as fixtures are booked many months in advance, this new protectionist approach certainly does pose a threat to shipping and global trade in general. For AAL, we have had our own office and network in the USA for over a decade and a community of customers that rely on our regular and reliable services. We may only hope that at some stage – and hopefully soon – the consequences of such policy to the US consumers and US economy will convince the new administration to reconsider this approach.”

Radoslaw Chmielinski, managing director Janusz Kuzmicki, shipping director, Chipolbrok

“It is hard to measure the impact of these new tariffs on trade, but it is certain that U.S. business partners will need to calculate whether the new costs justify moving forward with certain projects, whether additional budget can be secured to complete ongoing contracts, or if it would make more sense to pause or cancel altogether. Chipolbrok has been running a service to the U.S. for a long time, and it has always been an important route for our project cargo activity. We are therefore concerned about the future, but if needed, our vessels will be redirected to other areas. Trade restrictions and new barriers consistently have a negative impact on the shipping industry, as our vessels are intended to bridge distances and facilitate global business relations.”

Ulrich Ulrichs CEO, BBC Chartering

“The project industry will only feel the impact of the tariffs with some delay, despite tariffs certainly also being valid for projects already progressing. Projects typically span longer timeframes, and the procurement and production of components for projects often have lead times of several years. Will there be rerouting of cargo? Probably in the medium to long term. But initially the biggest impact will be on the price tag for those behind a project.”

Murilo Caldana Project Director, Fox Brasil

“The recent tariff shifts involving the United States are already reshaping global trade flows and will continue to have a widespread impact, given the size and influence of the American economy. From a Brazilian perspective, while these changes bring challenges, they also create opportunities for countries to rethink trade strategies and strengthen bilateral agreements. Brazil itself has long been a highly protected market — a model that over the past 50 years supported the growth of our local industry, especially in heavy equipment, turbines, generators, and wind energy components. This protectionism helped us become a strong exporter of industrialized goods, complementing our commodities sector. However, it also led to high consumer taxation and reduced competitiveness. Currency volatility adds another layer of complexity. Moving forward, countries will need to act quickly and leverage diplomacy to adapt and find new pathways in global trade.”