Executive Commentary |
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“ International trade has faced three stark inflection points this century: the Great Recession, the pandemic and the disruptions created by widespread tariff uncertainty and shifting trade policies.”
Dr. Noel Hacegaba
“ The EU has unveiled further stricter rules to curb foreign steel dumping, with a potential negative effect on import volumes in 2026.”
Ann De Smet
“ Resilience is not just about bouncing back from storms or slowdowns; it’ s about proactively preparing for the future.“
Beth Branch
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Port of Long Beach
Dr. Noel Hacegaba
CEO www. polb. com
International trade has faced three stark inflection points this century: the Great Recession, the pandemic and the disruptions created by widespread tariff uncertainty and shifting trade policies. What marks the current moment as different is, whereas the prior two cycles were byproducts of economic distress, this latest disruption is designed to reorder global commerce— yet not in a necessarily negative way.
The initial effects of the“ Liberation Day” tariff policies announced in April seemed dire. On one day in May, zero vessels left China with goods for ports in the San Pedro Bay complex in Southern California. Six days before, 41 vessels were scheduled to depart. How would the shipping industry weather the storm
It turned out quite well, at least in the short term. The supply chain has proved resilient in navigating unprecedented uncertainty triggered by on-again, off-again tariffs.
Throughout the year, new trade policies were announced and implemented. Adapting to the moment, industry players set aside their best practices of scrutinizing economic forecasts and making long-term planning decisions and instead focused on building, maintaining and operating their own link of the supply chain while leaders of the world’ s top economies negotiated issues far beyond the control of port authorities and private companies.
The unpredictability of the tariffs has resulted in importers and exporters moving goods out of season to avoid potentially harsher levies in the near future— and high cargo volumes at many US ports, including at the Port of Long Beach.
The longer-term effects of these tariffs are to be determined. But we know these types of actions are not sustainable, and businesses need certainty to prosper. We also know that new tariffs and additional fees tend to increase prices for consumers and shrink markets for producers.
Going forward, let’ s hope for a return to stability.
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Port of Antwerp-Bruges
Ann De Smet
Key Account Manager, Breakbulk and Roro Shipping Companies www. portofantwerpbruges. com
Challenges lie ahead with quota, tariffs and geopolitical shifts. Uncertainty about volumes makes it difficult to predict and forecast. Although we have seen a status quo in conventional cargo this year, with main driver a recovery in steel imports, we do see export volumes to, among others, the US and Mexico dropping further, in part driven by trade restrictions. Market volatility and geopolitical shifts may continue to affect the flow of goods and production of steel commodities, especially due to the US import tariff impact. This became apparent in 2025 and is expected to continue to influence volumes.
On the other side, the downward spiral of the European automotive
Port of New Orleans and New Orleans Public Belt Railroad
Beth Branch
CEO www. portnola. com
Any deceleration of growth in US shipping is a challenge, but it also presents an opportunity for our industry to adapt and build resilience. At Port NOLA, resilience is part of our DNA. Following Hurricane Katrina, despite catastrophic damage, the port reopened within two weeks to serve the nation, welcoming the Lykes Flyer as the first commercial cargo vessel to call. That same spirit drives us today as we invest in transformative projects that will position us and the
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industry, hugely affected by the challenges of the energy transition and competition of the Chinese market, will see an impact on steel volumes on the import side. Greening steel production in Europe is a challenge, as due to the higher cost they cannot remain competitive. Some producers are therefore reassessing production locations and volumes.
The EU has unveiled further stricter rules to curb foreign steel dumping, with a potential negative effect on import volumes in 2026. Regarding project cargo, sustainability projects in the market may or may not incur further delays, impacting volumes.
We hope to see a better balance in volumes and less uncertainty. Our port shows great resilience to changes and trade imbalances due to its diversification. More clarity on global trade restrictions in the breakbulk and project cargo segment could offer more stability to traders and logistics firms in the segment.
US Gulf as a premier gateway for decades to come.
The Port of New Orleans has long embraced diversification of business lines— container cargo, breakbulk cargo, rail and cruise— as a strategy, and that has enabled us to better navigate volatility in markets. Shippers have done the same in terms of adopting port diversification strategies to strengthen the resilience of their supply chains.
The Louisiana International Terminal( LIT), now under development, is the first new greenfield terminal to be built in the US in decades. While the pace of trade has temporarily slowed, we maintain a bullish outlook on the long-term strength of global commerce and shipping. LIT will allow us to accommodate some of the world’ s largest vessels, providing unmatched connectivity and capacity in the Gulf. It is a game-changing investment that ensures Port NOLA remains competitive and agile in a rapidly evolving global trade environment.
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