航运巨头集体转向真相：每净吨50美元背后，全球贸易航线正在重划

Core Viewpoint - The new U.S. regulations requiring shipping companies to pay fees based on the ownership and construction location of vessels are set to take effect on October 14, 2025, significantly impacting global shipping operations and costs [1][3]. Shipping Industry Impact - Shipping companies will face additional operational costs, with a medium-sized container ship potentially incurring up to $680,000 in extra expenses for a single port call [1]. - Major shipping firms like Maersk and CMA CGM have stated they will not pass these costs onto shippers and are adjusting their routes to avoid U.S. ports that require Chinese-built or owned vessels [1][2]. Regulatory Details - The fee structure includes $50 per net ton for vessels owned by Chinese entities, $18 for those built in China, and $14 for vessels completed outside China [1]. - Payment must be completed electronically before unloading, with no exceptions for unpaid vessels [2]. U.S. Shipbuilding Industry - The U.S. aims to revitalize its shipbuilding industry, which has been struggling, with commercial shipbuilding not meeting even 10% of military demand [3]. - Ingalls Shipbuilding in Mississippi has relied on government contracts, delivering only three commercial cargo ships last year [4]. Global Shipbuilding Landscape - China holds 72% of the global shipbuilding orders, with 83% of orders for car carriers coming from Chinese shipyards, making it difficult for shipping companies to find alternatives [4]. - The new U.S. policy may face execution challenges due to the dominance of Chinese shipbuilding in the global market [4]. Operational Adjustments - Shipping routes from Asia to the U.S. East Coast may increase by 7 to 14 days, raising operational costs by nearly $500,000 per voyage [6]. - As of late September, 17 voyages originally planned for the U.S. West Coast have changed routes to stop in Busan or Vancouver for transshipment [6]. Financial Implications - CMA CGM reported an increase of $34 million in regulatory compliance costs in its Q3 financial report [7]. - The company has also postponed the delivery of six new ships ordered from Chinese shipyards [8]. Port Operations and Market Reactions - The operational status of major U.S. West Coast ports has been downgraded from "stable" to "watch" due to these changes [9]. - The Port of Long Beach has seen a decline in nighttime operations, directly linked to shipping schedule adjustments [10]. International Shipping Dynamics - The new regulations have prompted discussions among shipping companies about potential changes in vessel registration to mitigate costs [10]. - Approximately 68% of foreign trade vessels owned by Chinese companies will be subject to the new fees, potentially exceeding $800 million in annual costs [10]. Regional Adjustments - The Port of Rotterdam has reported a 15% increase in cargo transiting to the U.S., prompting expansion plans to enhance processing capacity by 10% [10]. - COSCO Shipping has established a regional dispatch center in Singapore to coordinate vessel schedules through the Strait of Malacca [10].