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US port fees, and $3 billion in costs, loom for owners of Chinese-built ships
Fees on Chinese-linked ships aim to support U.S. shipbuilding and may cost top carriers $3.2 billion next year, with COSCO facing up to $1.53 billion, Alphaliner said.
- In one week, the U.S. will begin charging port fees on ships with Chinese connections, a policy anticipated to result in $3.2 billion in added expenses for the largest ten shipping companies over the next year.
- This policy aims to counter China's rising influence in shipbuilding and maritime trade while also seeking to revive U.S. shipyard output, which produced fewer than 10 commercial vessels last year.
- After strong industry opposition, the U.S. Trade Representative adjusted the fee plan by exempting many U.S.-based operators and extending deadlines for some ship types.
- Ships that are under Chinese ownership or management will be charged a fee of $80 per net ton for each trip, whereas all others using Chinese-built vessels must pay either $23 per net ton or $154 per TEU per voyage, with a maximum of five fees applied annually.
- Persistent uncertainty over the October 14 deadline and risk of further geopolitical responses, including China's pledged countermeasures, have unsettled global shipping companies.
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US port fees, and $3 billion in costs, loom for owners of Chinese-built ships
The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas.
·United Kingdom
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ANALYSIS - Even if these taxes will only be collected up to five times a year, it still increases the cost of a crossing. The hour of truth will soon ring: the six months of respite that Trump had given come to an end.
·Paris, France
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Coverage Details
Total News Sources8
Leaning Left1Leaning Right2Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
14%
C 57%
R 29%
Factuality
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