1231 ET - U.S. proposals to charge fees for Chinese-built or Chinese-flagged vessels calling at U.S. ports could slow global trade, according to analysts at J.P. Morgan. The U.S. Trade Representative proposes fees of $1 million or more per port call. About 40% of the global container fleet is made in China. Chinese-built vessels account for just over 20% of German container line Hapag-Lloyd's fleet, about 27% of boxships operated by Danish carrier A.P. Moller-Maersk and 55% of vessels operated by Chinese carrier Cosco Shipping. Analysts say the fees could add $50 to $100 to the cost of shipping a twenty-foot container. (paul.berger@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 12:32 ET (17:32 GMT)
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