Construction work is delaying the delivery of freight by truck to the Yangshan terminals in Shanghai. That coincides with the peak shipping season and is particularly pertinent given the urgency to beat new tariffs on exports to the U.S. Shanghai as a port has already underperformed the national average with an 8% drop in shipments in August vs. a year earlier vs. a 1% decline at Yantian. The extension of duties applied by America in late September may alleviate congestion but would still lead to lower volumes. The largest container-lines operating Shanghai-to-U.S. lines are CMA-CGM (17%...
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