Over a third of world’s shipping fleet could be hit by imminent US port fees

Upcoming US port fees could hit about 35% of world’s fleet: Incoming levies by the UnitedStates Trade Representative (USTR) intended to challenge Chinese sea power are expected to cost additional fees for 35% of vessels in the combined bulk, crude tanker, product tanker, and container fleet when calling on US ports, Splash247 reports, citing a report by Bimco. The duties are set to come into effect on 14 October.

What is the fee? Chinese entities will be obligated to pay a flat fee of USD 80 per net tonnage when calling on US ports, Reuters reports. Non-Chinese operators of China-made ships will pay either USD 23 per net tonnage or USD 154 per 20-ft equivalent unit capacity — whichever is higher. A ship will be charged its respective fee a maximum of five times annually, according to maritime data provider Alphaliner.

Who will be hit hardest? “Bulk carriers are more exposed to the increasing costs,” with 45% of the world’s fleet exposed to the fees, Bimco’s Chief Shipping Analyst Niels Rasmussen reportedly said. Meanwhile, about one-third of crude tankers and containerships, as well as 19% of product tankers, are also exposed, the report said. Notably, LNG tankers are exempt from the fines. Almost two-thirds of those who will be impacted will be China-operated vessels, with the rest comprising China-built ships managed by non-Chinese entities, the report said.

Obviously, China’s Cosco is the most vulnerable to the looming fees, facing as much as USD 1.53 bn as of next year, Alphaliner found. This accounts for nearly half of the USD 3.2 bn projected to be levied from the top 10 cargo carriers.