From the USTR release:
- Actions designed to restore US shipbuilding while mitigating disruptions
- Vessel ownders and operators of China would be assessed port fees starting at $50 per net ton in 180 days
- Fees will increase by $30 per ton per year for three years
- Foreign-built car carriers would start at $150 per vehicle in 180 days
- Fees on Chinese-linked vessels will be assessed per US voyage not per port call and will be imposed no more than 5 times per year
- Orders of US built vessels will lead to suspended fees for up to 3 years
It’s a monumental task to create a US shipbuilding industry basically from scratch. I tend to think that companies will just pay these fees or find ways around them rather than invest massively in ship building when these policies could be reversed in 4 years.
This article was written by Adam Button at www.forexlive.com.
