Beijing, Nov 10: China and the US have suspended the special fee for their ships berthing in each other’s ports following the understanding reached during their recent trade talks to finalise an agreement on tariffs.
China’s Ministry of Transport on Monday announced a one-year suspension of special port fees for ships owned or operated by US enterprises, organisations and individuals. The suspension comes into effect from Monday.
Simultaneously, the ministry announced a one-year suspension of its probe into how the US Section 301 investigation affects the security and development interests of China’s shipping and shipbuilding sectors, as well as related industrial and supply chains, official media here reported.
These measures are in line with the consensus reached during the recent China-US economic and trade talks in Kuala Lumpur in Malaysia, the ministry said.
The White House announced on November 1 that it would pause its port fees, effective Monday, as part of its trade truce with China, the Hong Kong-based South China Morning Post reported.
The shipping industry has welcomed the paused duties.
“We see the agreement to suspend the port fees as positive news for our customers as it gives them greater visibility, certainty and stability in their supply chains,” the shipping giant Maersk said.
“For shipping, this truce could not be timelier,” Xclusiv Shipbrokers, an Athens-based shipbroker, said in a note last week, the Post reported.
