Core Viewpoint - The implementation of China's special port service fee for U.S. vessels has led to significant changes in the shipping and logistics landscape, with companies adapting through rerouting and restructuring to maintain operational stability despite the absence of U.S.-flagged vessels in Chinese ports [1][3]. Port Operations - Major ports are operating smoothly, with no U.S.-owned shipping companies conducting business in Chinese ports since the policy took effect [3]. - The Guangzhou Port, a key gateway in South China, continues to maintain stable cargo and container throughput, ranking among the world's top ports [3]. Shipping Company Responses - Shipping companies have quickly adapted to the new regulations, with Maersk and other firms implementing rerouting measures to avoid U.S. flagged vessels docking at Chinese ports [6]. - Pacific Shipping is restructuring its operations by relocating part of its fleet to Singapore and changing the flag of its vessels to avoid the special port service fee [6][7]. Market Dynamics - The shipping market, particularly for bulk commodities, is expected to require time to adjust, but signs of stabilization are emerging [10]. - The overall supply of vessels remains sufficient, and there is no structural shortage, with charterers managing their shipping schedules to avoid market volatility [10]. Future Outlook - The recent discussions between China and the U.S. regarding maritime logistics and shipbuilding measures indicate a potential for constructive dialogue and resolution of trade issues [11]. - The adjustments made by shipping companies may lead to a more favorable market environment in the long term, as they seek clarity on regulatory changes and aim to minimize operational costs [10].

Core Viewpoint - The article discusses the impact of China's countermeasures against the U.S., specifically the implementation of special port service fees for U.S.-flagged vessels, which has led to a significant reduction in U.S. shipping operations in Chinese ports while maintaining overall shipping capacity through rerouting and restructuring efforts [1][3]. Group 1: Port Operations - Major ports are operating smoothly despite the new policies, with no U.S.-owned shipping companies conducting business in the South China region [2][3]. - The Guangzhou Port, a key gateway for South China, continues to maintain stable cargo and container throughput, ranking among the world's top ports [3]. Group 2: Special Port Service Fees - Since October 14, China has implemented special port service fees for U.S.-flagged vessels, mirroring the U.S. policy on Chinese vessels [3]. - The only reported case of a vessel being charged this fee involved the "Manukau" container ship from Matson Navigation Company, which allegedly incurred a fee of 4.4584 million yuan during its stay at Ningbo [3]. Group 3: Shipping Company Responses - Shipping companies have quickly adapted to the new regulations, with Maersk shifting its U.S.-flagged vessels to third-country non-U.S. registered ships to avoid port fees [6]. - Pacific Shipping is restructuring its operations by relocating half of its bulk carrier fleet to Singapore and changing its flag to avoid the special port service fees [7]. Group 4: Market Adjustments - The shipping market, particularly for bulk commodities, is expected to require time to adjust, but signs of stabilization are emerging [9]. - As of the week of October 23, the ultra-large tanker market remains cautious, with both charterers and shipowners adopting a wait-and-see approach, although some shipowners are beginning to seek cargo [9]. Group 5: Future Outlook - The shipping industry anticipates that the adjustments will lead to a more stable market in the long run, with a focus on regulatory clarity from both governments [9]. - There is a potential for non-U.S. shipowners to gain a premium in the market, particularly those with Chinese backgrounds, due to resource supply chain security considerations [10].

自中方采取反制措施、对美船舶收取船舶特别港务费政策实施已近两周，相关政策影响正逐渐显现。证 券时报记者从港口、航运相关公司了解到，虽然近期已经几乎没有美国背景船舶在我国港区开展业务， 但是各方合力通过转运、改组等方式保持美线整体运力的稳定。 各大港口运作平稳 "自10月14日起，中国对美国实施反制措施。从南沙港区运营情况看，区域内没有美资航运企业开展业 务。根据当前情况，南沙港区美线整体运力保持稳定，航线服务未受到干扰，将继续保障华南地区至美 国航线的服务连续性。"广州港相关负责人对证券时报记者表示。作为华南连接世界的门户，广州港货 物吞吐量和集装箱吞吐量稳居世界前列。 10月14日起，美国贸易代表办公室对中国公司拥有或运营的船舶、中国造船舶、中国籍船舶加收港口服 务费。作为维护中国海运企业合法权益的正当举措，我国决定将于10月14日起对涉美船舶收取船舶特别 港务费，内容和收费标准和美方政策基本一致。 与广州港情况类似，多家上市港口企业在接受记者采访时普遍表示，自船舶特别港务费政策生效以来， 没有美资背景的船舶靠港作业，相关航线服务运作正常。 唯一一个可能被收取特别港务费的案例，是美国美森航运公司的"曼努凯" ...

Group 1 - The company Pacific Shipping (02343) announced a share buyback plan, intending to repurchase 35,000 shares at a cost of HKD 88.2 million on October 24, 2025 [1]

智通财经APP讯，太平洋航运(02343)公布，2025年10月24日耗资8.82万港元回购3.5万股股份。 ...

Group 1 - The company, Pacific Shipping (02343.HK), announced a share buyback on October 24, 2023, spending HKD 88,200 to repurchase 35,000 shares at a price of HKD 2.52 per share [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 太平洋航運集團有限公司 (僅供識別) 呈交日期： 2025年10月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02343 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 ...

Group 1 - The company, Pacific Shipping (02343), announced a share buyback plan, intending to repurchase 52,000 shares at a total cost of HKD 130,000 [1] - The buyback price is set at HKD 2.5 per share, indicating a strategic move to enhance shareholder value [1] - The buyback is scheduled for October 23, 2025, reflecting the company's confidence in its financial position [1]

格隆汇10月23日丨太平洋航运(02343.HK)公告，10月23日耗资13万港元回购5.2万股。 ...

Core Viewpoint - Pacific Shipping (02343) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Summary by Categories Company Actions - The company plans to repurchase 52,000 shares at a total cost of HKD 130,000 [1] - The buyback price is set at HKD 2.5 per share [1] Financial Implications - The total expenditure for the buyback represents a strategic investment in the company's own equity [1]