Ocean Shipping
The measures, imposed by the US Trade Representative (USTR), take effect on October 14th. They apply specifically to Chinese carriers and vessels built in Chinese shipyards. Under the rules, Chinese carriers registered in China or Hong Kong will pay $50 per net ton, while ships constructed in China face a $120 per teu levy. For vessels that fall into both categories, only the higher charge will apply.
The central question has been whether carriers will absorb the costs or pass them on to shippers. Signs so far suggest that many lines are taking steps to avoid directly hitting customers with new surcharges.
The Gemini Cooperation has indicated little exposure, with Hapag-Lloyd confirming that most of its fleet was built in South Korea. Market observers believe the same is true for partner Maersk Line.
The Premier Alliance - including HMM, ONE, and Yang Ming - has been restructuring its service rotations to prevent Chinese-built ships from calling at US ports, perhaps again reducing the likelihood of extra charges for shippers.
Within the Ocean Alliance, CMA CGM has said it will not impose surcharges “for now.” But its partners Cosco and OOCL, both Chinese-owned, face direct exposure. Analysts warn the two carriers could face as much as $2.1bn in additional costs in 2026, though the burden could be eased if other alliance members adjust capacity to cover US trades.
The stance of MSC, the world’s largest container line, remains unclear.
For now, the broader effect of the USTR fees may be somewhat muted, though the industry is waiting to see whether the current mitigation strategies will hold once the charges actually take effect.
One clear casualty, however, has already emerged - Chinese shipyards. Their share of global newbuild ship orders dropped sharply in the first half of 2025, sliding from 72% to 52%.
Croft Cargo are monitoring developments.
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