COSCO Shipping Lines: US port charges threaten global supply chain

COSCO Shipping Lines container ship (Photo: COSCO Shipping Lines / Phaata)

COSCO Shipping Lines – China's largest container shipping line – on Monday strongly opposed the US plan to impose high charges on its ships when calling at US ports.

“We firmly oppose the accusations and the subsequent measures,” COSCO said in a statement. 

“Such measures not only distort fair competition and impede the normal functioning of the global shipping industry, but also threaten its stable and sustainable development.”

“Ultimately, these actions risk undermining the security, resilience, and orderly operation of global industrial and supply chains.”

The revised port fee plan was announced by the United States Trade Representative (USTR) on Friday, following a backlash from the trade community and maritime stakeholders over the original proposal – which called for flat fees in the millions of dollars. The revised plan now applies fees based on vessel size or the number of containers carried – whichever is greater.

COSCO, the world’s fourth-largest container shipping line, operates some of the largest vessels on the Asia-US route. As such, it expects to be impacted not only by the new port fees but also by the potential for reduced port calls in the US, particularly under its Ocean Alliance with OOCL (China) and Evergreen (Taiwan, China).

The charges come after a USTR investigation concluded that China used unfair trade practices to build a dominant position in the global shipping and shipbuilding industries.

In a statement, COSCO denied the allegations, calling the USTR’s findings “discriminatory.”

“As a responsible global provider of shipping and logistics services, we consistently uphold the principles of integrity, transparency, and compliance in international industry competition,” COSCO stressed. “We remain steadfast in our commitment to supporting global trade and delivering high-quality, reliable commercial shipping and logistics solutions to our clients worldwide.”

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Source: Phaata.com (According to Freight Waves)

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