With new U.S. port fees targeting Chinese-built and Chinese-owned vessels set to take effect on October 14, carriers are adjusting their networks to reduce financial exposure and maintain service continuity.

American Shipper reports that several major container lines such as Maersk, Hapag-Lloyd, ONE, and Yang Ming, are already withdrawing China-built vessels from U.S.-bound services ahead of the upcoming October 14 deadline.

According to splash247’s report, a recent analysis by HSBC Global Investment Research estimates that COSCO and its subsidiary OOCL could face more than $2 billion in financial exposure over the next year. HSBC also warned that the rotation of vessels out of U.S. trade lanes may lead to short-term capacity constraints. Citing data published by Drewry, splash247 reported that there was a 20% decline in the number of Chinese-built vessels operating on U.S. trade lanes.

As SeaTrade Maritime reported, HSBC found that 71% of global container ship capacity is sourced from non-Chinese shipyards. On major trade lanes like the Trans-Atlantic and Trans-Pacific, China-built vessels account for only 21% of capacity. Only 15% of all U.S. port calls involved vessels constructed in China.

Source: splash247.com, American Shipper, SeaTrade Maritime