Shipping Awaits Clarity on US-China Port Fee Suspension

Uncertainty remains over when the suspension of the recently introduced US-China port fees will take effect. File Image / Pixabay

The International Chamber of Shipping (ICS) and other industry experts have welcomed reports of a one-year US-China port fee suspension, but are waiting for further details.

ICS has been in talks with both the US Trade Representative and the Chinese government since the Section 301 investigation began, the group said in an emailed statement on Thursday.

The shipping group said confirmation of the suspension and further details are awaited.

Beijing claimed yesterday that the US and China trade teams have reached a consensus over the suspension of maritime measures imposed on each other for one year.

This comes after President Donald Trump and President Xi Jinping met in Busan on Thursday.

The agreement reportedly pauses US port fees on Chinese-linked vessels, along with China's reciprocal measures on US-linked ships.

However, details of the deal remain unclear, including whether a date has been set for when the port fees - introduced on October 14 - will be paused.

This leaves the shipping industry uncertain about when the suspension will take effect.

Lars Jensen also expressed concern that statements from both countries lack tangible details, noting it remains unknown when the vessel fees will be suspended.

"Given this is a time-limited suspension it would likely see shipping lines maintain a deployment stance whereby they to some degree still abide by the restrictions and certainly keep a plan for vessel-reshuffling handy," Jensen, CEO of container consultancy Vespucci Maritime, said in a LinkedIn post on Thursday.

"I sincerely hope this agreement has some permanency, something sorely lacking thus far, that will allow the shipping industry to get on with its core purpose – facilitating global commerce," Simon Heaney, senior manager of container research at Drewry, said in a LinkedIn post on Thursday.