US port fees don’t hit until October but shipping response already underway
- USTR hearing on Monday did not address any of the questions raised by shipping and focused entirely on Chinese-built port cranes
- Almost half of Zim’s operating capacity is Chinese-built; it is currently in the midst of planning to redeploy fleet to ‘minimise if not neutralise’ fee costs
- Concerns over Chinese leasing are already having an effect: Okeanis Eco Tankers just bought back three VLCCs from a Chinese leasing house, switching to Greek bank debt
For shipping to avoid US port fees beginning in mid-October, it needs to put plans in motion now, and not wait for clarity on the specifics of fee implementation that may be a long time coming. The industry is already making moves
