美国“靠港费”新政来袭，新规引发全球航运巨头表态

Core Viewpoint - The upcoming U.S. port fee policy targeting Chinese vessels, referred to as the "shipping tax," is set to significantly impact Chinese shipping companies, with steep fee increases scheduled from 2025 to 2028 [1][5]. Group 1: New Port Fee Policy - The new port fee policy will charge Chinese shipowners/operators $50 per net ton in 2025, escalating to $140 per net ton by 2028, with a maximum of five charges per ship per year [1]. - Non-Chinese operators using Chinese-built vessels will face initial fees of $18 per net ton or $120 per TEU, rising to $33 per net ton and $250 per TEU in three years [1]. Group 2: Financial Impact on Companies - China COSCO Shipping Holdings may incur up to $1.5 billion in annual port fees by 2026, representing 5.3% of its projected annual revenue and consuming 74% of its expected EBIT [5]. - Orient Overseas International may face port fees of $654 million in 2026, accounting for 65% of its expected EBIT [5]. Group 3: Exemptions and Compliance - Certain exemptions exist for domestic shipping vessels, empty bulk carriers, and some roll-on/roll-off ships, but most container ships used in cross-border e-commerce are subject to the fees [4]. - Ships that fail to pay the fees on time will face severe penalties, including operational bans or detention [3]. Group 4: Industry Response - Major shipping companies are adjusting strategies, such as replacing vessels with those built in non-Chinese shipyards to avoid fees [9]. - The Premier Alliance plans to split existing routes to prevent Chinese-built ships from docking at U.S. ports [10]. - Companies are exploring transshipment routes through Canada, Mexico, or Caribbean ports to mitigate the impact of the new fees [11]. Group 5: Statements from Shipping Companies - Maersk has stated it will not pass additional costs onto customers and will adjust vessel deployment to avoid U.S. routes [13]. - CMA CGM has indicated it will not impose extra fees for shipments to the U.S. despite the challenges posed by the new service fees [13]. - MSC has announced a proactive restructuring of its global fleet network to manage the new costs, with a significant portion of its fleet built outside China [13]. Group 6: Market Outlook and Recommendations - The current market reflects a combination of short-term price advantages and long-term structural adjustments, necessitating flexibility and proactive planning [15]. - Companies are advised to seize opportunities in the current low freight rates for non-urgent shipments while preparing for potential long-term cost increases due to the new port fees [15][16]. - Supply chain resilience is emphasized as a critical factor for companies navigating the dual challenges of rising shipping costs and fluctuating freight rates [16].