CMA CGM warns: High port fees in the United States will affect the global container shipping industry!
The Office of the US Trade Representative (USTR) has proposed imposing steep port fees on Chinese-built ships entering US ports, a move that would have a major impact on the global container shipping industry. French shipping giant CMA CGM said that since most of the world's container ships are built in China, the policy will have a significant impact on the entire industry.
Under the USTR proposal, the United States plans to charge up to $1.5 million for Chinese-built ships entering its ports. The proposal seeks to investigate China's expansion in shipbuilding, shipping and logistics. "China builds more than half of the world's container ships, so this will have a significant impact on all shipping lines," said Ramon Fernandez, CMA CGM's chief financial officer.
CMA CGM, the world's third-largest container shipping company, has a significant presence in the United States, operating several port terminals, and its subsidiary APL owns 10 U.S.-flagged vessels. Fernandez noted that while CMA CGM has a ship-sharing agreement with partners in Asia, including China's Cosco, the Ocean Alliance, there is no sign that the alliance will be called into question because of U.S. policy. The USTR is expected to make a final decision in April.
CMA CGM reported a 7.8% increase in its shipments in 2024, supporting an 18% increase in group sales to $55.48 billion. However, given geopolitical uncertainties and the risk of excess ship capacity, the market outlook for 2025 seems less optimistic. Fernandez said the unrest in the Red Sea region had led to the absorption of extra capacity, and as Red Sea traffic returned to normal after the Gaza ceasefire, it could lead to excess capacity, prompting some companies to scrap ships.
The US proposal to impose high port fees on Chinese ships would have far-reaching implications for the global container shipping industry. Shipping companies such as CMA CGM need to pay close attention to the USTR's final decision and be prepared to respond. At the same time, the policy may also prompt global shipping companies to re-evaluate their cooperation with Chinese shipyards or even seek alternatives, thus intensifying competition in the global shipbuilding market.
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