As the date for the US planned port fees on so-called China-linked vessels approaches, concerns are mounting within the global shipping industry regarding uncertainties and additional costs. With about one week to go until the US imposition of port fees, scheduled for October 14, the move is expected to cost the top 10 carriers $3.2 billion next year, a Reuters report said on Tuesday.
While the unilateral barriers proposed by the US may create short-term turbulence and put pressure on certain shipping companies to alter their routes, it is essential to recognize that such measures cannot ultimately impede the overarching trend of globalization. In the long run, the forces of economic integration and interdependence are likely to prevail.
As an important participant in the process of globalization, the status of China's shipping industry has always been the result of market selection and an inevitable outcome in line with the laws of economic development.
Notably, China has demonstrated firm determination to safeguard the legitimate interests of its companies. On September 29, the State Council released a decree that revised the rules on international maritime transport. Under the revised regulations, China will take necessary countermeasures against countries or regions that impose or support discriminatory bans, restrictions, or similar measures targeting Chinese operators, vessels, or crew engaged in international maritime transport and related services.
The scope of these countermeasures is clear and far-reaching. As outlined in the revision, they include, but are not limited to, charging special fees on their vessels when calling at Chinese ports, prohibiting or restricting these vessels' port access in China, and barring or restricting their organizations or individuals from accessing China-related maritime data or operating in international shipping and related services to and from Chinese ports.
The decree is more than just a defensive move - it serves as a clear message before the US port fee policy takes effect: in the face of unilateral, provocative measures, China's shipping industry will not retreat, nor will China allow its role in global trade to be arbitrarily undermined.
It's also important to note that when formulating the policy, the US appears to have underestimated China's weight in the global shipping system. China remains shipping's biggest single market. In many areas of the maritime economy, China has taken market-leading positions globally. The fleet of Chinese shipowners has reached 249.2 million gross tons, according to the Xinhua News Agency.
Moreover, China has eight of the world's top 10 busiest ports in terms of cargo throughput and seven of the world's top 10 ports in terms of container throughput. Through technological innovation, enhanced transportation efficiency, and increased global cooperation, China's shipping industry plays a vital role in ensuring the security, stability and smooth flow of the international logistics supply chain and promoting global economic growth amid uncertainty. This means that in today's interconnected global maritime transport network, the US' attempt to force China's shipping industry to retreat by imposing additional fees is fundamentally unfeasible.
China's preeminent status in the global shipping industry is the natural result of decades of deep integration into the global market through its manufacturing prowess. First, as the world's top manufacturing nation, China provides the most stable and largest source of cargo for global shipping. Second, its vast, continuously growing, and increasingly open domestic market is a crucial destination for global goods. Third, China boasts the world's largest and most comprehensive marine industrial system. In 2024, Chinese shipbuilders led globally in all three traditional metrics - completion volume, new orders and order backlog - holding more than half of the global market share in each, according to Xinhua.
Washington's port fee policy may lead to short-term market volatility. However, the rise of China's shipping industry is an inevitable outcome of market economics, driven by demand, efficiency, and scale. Any effort to exclude it from the global trade system through unilateral, protectionist means is not only contrary to basic economic principles but also ignores China's unwavering determination to safeguard its own interests and uphold global trade fairness. In the end, the US' unilateral moves will prove futile.
