CSSC Holdings(SH:600150) Sou Hu Cai Jing·2025-10-13 11:01Core Viewpoint - The U.S. is implementing a "port service fee" targeting Chinese shipping and shipbuilding industries, which is seen as a retaliatory measure against China's competitive pricing in the global shipbuilding market [1][3]. Group 1: U.S. Actions and Motivations - The U.S. aims to undermine China's growing dominance in shipbuilding, as 90% of new ship orders are now directed to China, which threatens U.S. maritime supremacy [3]. - The new "port service fee" is a continuation of Trump's tariff policies, aimed at revitalizing the hollowed-out U.S. shipbuilding industry by imposing additional costs on Chinese vessels [3]. - The fee may extend beyond Chinese-flagged ships to include those manufactured, operated, or financed by Chinese entities, pressuring global shipping companies to choose between cost-effective Chinese vessels and more expensive U.S. alternatives [3][5]. Group 2: China's Response and Strategy - In response to U.S. pressure, China has enacted a revised International Shipping Regulations, which includes provisions for sanctions against countries that harm Chinese shipping interests, regardless of existing agreements [5]. - The new regulations also ensure that the Chinese government will support domestic shipowners and companies facing losses due to U.S. actions, indicating a strong protective stance [5]. - China's countermeasures are designed to target not only U.S.-flagged vessels but also any ships with U.S. financial ties, signaling a comprehensive approach to retaliate against U.S. policies [7]. Group 3: Market Reactions and Implications - As the implementation date of the U.S. policy approaches, global shipping markets are experiencing tension and uncertainty, with shipping companies unsure of how to navigate the new fee structure [9]. - Major shipping firms like CMA CGM and Maersk are adjusting their fleets to mitigate risks, indicating a cautious approach to U.S. routes while maintaining ties with China [9]. - The ongoing conflict in the maritime sector reflects a broader competition between the U.S. and China, emphasizing the importance of resilience and strategic capabilities in the face of economic pressures [11].