Warning on China's Port Fees
Harry Vafias, a prominent Greek shipowner, warns that China's newly announced port fees could have an "extremely high and unfair" impact on US-listed owners.
The Chinese Ministry of Transport's announcement states that the measures apply to vessels "owned or operated by enterprises in which US entities or individuals hold 25% or more of the equity."
It is not clear whether this notice will eventually apply to US-listed shipping companies
Mr. Vafias notes that the announcement leaves room for ambiguous interpretation, and the costs would be high given the short adaptation period.
- The measures could apply to vessels owned by enterprises with 25% or more US equity.
- US-listed shipping companies may be affected, but the interpretation is unclear.
Author's summary: Harry Vafias warns of unfair impact of China's port fees.