Reported 1 day ago
In a strategic response to impending U.S. port fees set to take effect on October 14, Chinese carriers Cosco and OOCL announced they would not impose surcharges on their vessels, despite expectations of a $2.1 billion impact by 2026. This decision contrasts with other operators who are shifting capacities to mitigate costs. The fees, part of a U.S. initiative to counter China's maritime dominance, charge Chinese-owned ships $80 per net ton, while other operators pay a minimum of $23 per net ton. As rates for trans-Pacific shipping continue to decline, the involvement of Chinese firms in maintaining service levels may alleviate impacts on shippers, although retaliation from Beijing looms over escalating tensions.
Source: YAHOO