U.S. proposals to hit Chinese vessels with high port fees would have a major impact on all firms in a container shipping industry in which most vessels are built in China, French-based
U.S. proposals to hit Chinese vessels with high port fees would have a major impact on all firms in a container shipping industry in which most vessels are built in China, French-based shipping firm CMA CGM said on Friday.
The U.S. Trade Representative's office has proposed charging up to $1.5 million for Chinese-built vessels entering U.S. ports as part of its investigation into China's expansion in the shipbuilding, maritime and logistics sectors.
"China builds more than half of all container ships in the world, so this would have a significant effect on all shipping firms," Chief Financial Officer Ramon Fernandez told reporters.
CMA CGM, controlled by the family of Chairman and CEO Rodolphe Saade, is the world's third-largest container shipping line. It has a large U.S. presence, operating several port terminals while subsidiary APL has 10 U.S.-flagged vessels, Fernandez said.
Asked about Ocean Alliance, a vessel-sharing agreement involving CMA CGM and Asian partners including China's COSCO, he said CMA CGM has had no indications the alliance could be called into question in view of U.S. policy.
He declined to comment further on the USTR proposals pending a decision expected in April.
The group already expects some impact on shipping this
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