Another Round of Mixed Signals and Weakening Freight as China Trade Fight Resumes
Trump’s latest comments attacking the IMO’s global carbon-tax proposal for shipping added another layer of confusion to an already unsettled market. He called it a “Global Green New Scam Tax on Shipping,” even as his own administration’s Section 301 tariffs continue to raise costs for shipowners and operators by extending duties to shipping-related goods and services. With the China trade war heating up again, the Baltic Clean Tanker Index dropped about 5 percent as charterers stepped back, highlighting how policy uncertainty and tariffs are already distorting global freight. For biodiesel and renewable diesel traders, this web of conflicting policies makes forward planning increasingly difficult, notwithstanding that the industry had been preparing to supply large volumes of UCOME and other biodiesel products to the maritime industry in view of these upgrades of IMO rules.
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