Shipping News revived

[ombugge]

It’s “fee day” today:

Port fees become the new tariffs in US-China maritime showdown - Splash247

Beijing’s decision to exempt Chinese-built tonnage from the new fees significantly reduces the number of ships subject to the new port call fees, suggesting the market impact may be smaller than initially anticipated, particularly within the dry bulk sector, according to a note to clients from broker Arrow.

SEB expects the market will adapt to increased inefficiency, reflected in the recent surge in both capesize and VLCC rates.
As well as the American and Chinese port fees, Donald Trump, the US president, has hinted at 100% tariffs on Chinese goods from next month, while his administration has made very strong threats to member states contemplating voting in favour of the International Maritime Organisation’s Net-Zero Framework this week.

PS> I wonder how well thought through the various policies brought forward by the Trump administration really is.
This is NOT the 1960s, or even 1980s-90s, when US was still a leader in world economy:

Source: https://www.visualcapitalist.com/u-s-share-of-global-economy-over-time/

In world trade US is not fearing as well:

In 2019, the top-five largest trading economies in terms of share of global trade were the European Union, the United States, China, Japan and the United Kingdom (UK). Considering EU member states individually, China was the largest exporter, while the United States was the largest importer. In goods trade, the United States was the largest importer and second-largest exporter (behind China). In services trade, the United States was both the largest importer and exporter.

The U.S. share of global goods trade has fallen over the past several decades—from 15% in 1970 to 9% in 2019—largely due to the rapid increase of global trade, especially among developing countries and emerging markets.
Historical data on global trade in services is limited; in 2019, the U.S. export share of global services was 14%, and import share was 10%.

Source: U.S. Trade Trends - WITA .

More sanction news:

Beijing places sanctions on Hanwha Ocean’s American assets - Splash247