Economics
Massive Cargo Ships Are Outrun by Nimble Fleet in New Speed Race
China’s share of U.S. imports grew last year as the pandemic salvaged shipping’s fortunes
A container ship sails into New York Harbor.
Photographer: Peter Foley/BloombergThis article is for subscribers only.
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For years, container shipping was a rough business. Margins were minuscule, the risks were high and growth prospects bobbed with the unpredictable tides of global trade. That it's now generating record profits is one of the great economic surprises of the pandemic.