Annual Review & Outlook 2026
Maritime
Executive Commentary to level the military tonnage playing field with China.
Success may be achieved in small increments, and the recent order with the Finnish shipyards of polar suitable coast guard cutters is an example of where progress might be made.
The only really good news is that this is being discussed and debated on the highest stages of government.
PhilaPort
Jeff Theobald
CEO and Executive Director www. philaport. com
To the degree that any deceleration of US shipping growth is cyclical, the supply chain and maritime industries will weather the storm as they have always done. However, to the extent that reduced growth results from the highest US tariffs in 100 years, the supply chain
The Northwest Seaport Alliance
John Wolfe
CEO www. nwseaportalliance. com
The global maritime industry is navigating a period of unprecedented volatility, driven by a complex interplay of geopolitical factors, tariff impacts and significant shifts in cargo flow. This uncertainty has prompted major adjustments across the supply chain. Our gateway has observed importers frontloading cargo early in 2025, followed by a noticeable decline in volumes toward year-end, while our valued exporters face reduced access to foreign mar-kets, directly impacting their profitability. Consequently, businesses are delaying capital investments and implementing cost-cutting measures to manage the unknown.
Unlike past cycles, where downturns were often more temporary, the current environment— influenced by sustained factors such as ongoing trade wars and disruptions from global conflict— feels distinctly different. The combination of these factors, along with strategic capacity management, technological advancements and environmental regulations, sug-gests this volatility will have a more lasting impact on global trade and supply chain stability.
In this challenging landscape, we expect the industry to prioritize operational efficiencies that deliver tangible
and maritime industries should focus on cargoes with inelastic demand, prioritize markets with lower tariff rates and think long-term.
Here at PhilaPort, we are fortunate to be a major food port. Food, which has an inelastic demand curve, should see less decline due to tariffs than cargoes with elastic demand. People will put off buying products they don’ t need— that is not an option with food. Our marketing staff will be prioritizing cargoes with inelastic demand curves.
Brazil is our third-largest trade partner, and high tariffs on Brazil will hurt us. However, Peru, another major trade partner, has relatively low 10 % tariffs, so we hope growth from Peru can continue. While we are thankful that wood pulp, one of our major products from Brazil, now has a tariff exemption, we will shift our focus to countries with lower tariff rates. Tariff analysis is now a more important part of supply chain and maritime strategy. Finally, the supply chain and maritime industries will need to think long-term. The US is still one of the major global trading countries and will continue to be so. US consumers will make sure of that. Once trade growth picks up again, ports, especially, will need to be ready for increased cargo volumes. We at PhilaPort have recently acquired 173 acres of additional land in expectation of future growth. We are also investing in new warehousing, improved roads and better technology. Infrastructure improvements now will pay off in the mid- to long-term.
The Port Authority of New York and New Jersey
Beth Rooney
Port Director www. panynj. gov
Last year was a year of recalibration for the global shipping industry, and the Port of New York & New Jersey has navigated that shifting environment with resilience and focus. The port continues to perform strongly, supported by increasing cargo
customer benefits. This means investing in technologies that streamline port operations, enhance cargo handling and foster greater supply chain transparency for better decision-making across the ecosystem.
At the Northwest Seaport Alliance, we remain deeply committed to operational excellence and best-in-class service. As we look ahead, we are strategically planning for long-term re-silience. We continue to prioritize essential infrastructure investments, including increasing the efficiencies of our larger terminals, ensuring deeper waterways for next-generation vessels and advancing the electrification of our facilities for sustainable operations. Furthermore, we are actively exploring opportunities to reduce costs for our customers, diversify our service offerings, and evaluate options for greater operational control of key termi-nals.
By executing these strategies, the Northwest Seaport Alliance is positioning itself to withstand the current market volatility, and to emerge as a more efficient, resilient and compre-hensive partner to the global trade community.
“ Te supply chain and maritime industries should focus on cargoes with inelastic demand, prioritize markets with lower tariff rates and think long-term.”
Jeff Theobald
“ Tariff volatility has further complicated routing decisions and inventory strategies, making agility, not just capacity, the defining advantage.”
Beth Rooney
“ In this challenging landscape, we expect the industry to prioritize operational efficiencies that deliver tangible customer benefits”
John Wolfe www. joc. com January 5, 2026 | Journal of Commerce 47