Andreas Solomonides: Geopolitical tensions, trade disputes, sanctions and tariffs are reshaping global shipping

Speaking to CBN just before US President Donald Trump announced a 90-day pause on his previously announced tariffs, with the exemption of China, Andreas Solomonides, Managing Director of Bernhard Schulte Shipmanagement (BSM) in Cyprus, described the tariffs as “a major blow to the global economy.”

More specifically, Solomonides said, “It is not a surprise that the economic and tariff policies of the current US administration have caused considerable uncertainty in global markets. This is a major blow to the global economy, as evidenced by recent volatility in stock markets, and a severe setback to free trade.”

He went on to note that, “It remains unclear whether we can expect a rethink of this rigid strategy or whether the cycle of tariffs and retaliatory measures will persist. Despite proposals for negotiation and the threat of countermeasures, the United States continues to adhere to its current course—though this stance may shift at any time.”

Solomonides was proved correct soon after when Trump’s administration announced the 90-day pause.

On his part, Solomonides, in his initial statement, added, “ Should these developments continue, they are likely to affect the cost, demand, and availability of goods worldwide. In turn, this would influence global supply chains, trade volumes, shipping routes, and cargo flows.”

He went on to note, though that, “Shifts on the shipping routes would not have a significant impact on our operations as a ship manager. What cargo the ships carry, and which ports they call is up to the shipowner or charterer. Our core responsibility is to guarantee a consistently high level of quality and safety in ship management, regardless of where the ships are sailing to.”

Solomonides continued, “However, significant fluctuations in overall demand would of course also affect our business. It is evident that geopolitical tensions, trade disputes, and the proliferation of sanctions and tariffs are reshaping the global shipping industry. These dynamics are creating a more complex, volatile market environment in which companies must continually adapt to evolving conditions and shifting regulatory landscapes.”