Trump tariffs only hit trade with the US. So shipping between other countries are not hit. How much of all shipping is to or from the US ?
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@SATNL From the 2023 numbers we can gather, Dry Bulk TO the U.S represented roughly 1% of volume and FROM the U.S a bit above 3%.

This is the best estimate we can get fro Dry Bulk.
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@Jo_Wolf that is why i can not understand why shipping stocks are down so much in response to tariffs. lot of fear and panic i guess.
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@SATNL You can even consider those tariffs as boosters for Dry Bulk and Tanker segments as it redirect many routes to longer ones pushing both rates and chartering days higher !
A sector that would profit much less / being hurt on the other end is container shipping do to the heavy reliance on consumer consumption
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