World News
Chinese Carrier COSCO Reassures Shippers Amid US Port Fee Pressure
Chinese shipping firm COSCO Shipping Lines has assured shippers that its US services will remain stable despite new American trade measures.
From October 14, the US will levy port service fees on maritime transport provided by Chinese operators and shipowners, as well as on operators using Chinese-built vessels, the firm said in an advisory last week.
COSCO acknowledged the move may pose 'operational challenges' but said it remains confident in its ability to sustain stable capacity and service quality in the US market.
The company pledged to maintain competitive rates while adjusting policies in line with market conditions.
"COSCO SHIPPING Lines has been deeply engaged in the U.S. market, strictly complying with all applicable U.S. laws, regulations, and policy requirements," COSCO said.
"We have always been a trusted partner in facilitating U.S. import and export trade."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 470.00 | 8.00 | 674.50 | 7.00 |
| Rotterdam | 443.00 | 7.00 | 670.00 | 6.50 |
| Houston | 452.50 | 7.50 | 658.00 | 3.50 |
| Fujairah | 474.00 | 7.00 | 733.50 | 4.50 |
| Global 20 Ports Average | 506.00 | 7.50 | 757.00 | 4.50 |
| Global 4 Ports Average | 460.00 | 7.50 | 684.00 | 5.50 |
| Global Average Bunker Price | 550.00 | 6.00 | 800.50 | 4.00 |
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