Shipping rates rising off bottom, still far from recovery.

• Position: U.S.-China trade dispute affect the shipping industry - Report

Trade conflicts and geopolitical risks are driving sentiment on ocean shipping rates, particularly in the container market. In liquefied gas sectors, propane transport to Asia is looking increasingly vibrant after a multi-year malaise, while natural gas transport appears to be coming out of its recent doldrums, with hopes for a major revival.

Despite the hype, rates for crude tankers remain unimpressive, and rates for dry bulk shipping are still ominously low. The big question in the container-shipping industry is whether U.S. President Donald Trump's threat to impose tariffs on an additional $300 billion of Chinese exports will lead to accelerated import activity, and thus an increase in the per-box freight rate in the near-term - or, alternatively, a downturn in both volumes and rates.

In 2018, US imports surged as companies raced...