The United States levies port fees on ships made in China, which benefits Taiwanese shipping companies because they have a low percentage of ships made in China.

On April 17, 2025, U.S. President Donald Trump signed an executive order announcing the imposition of significant port fees on ships manufactured in China or owned and operated by companies based in China. The order aims to weaken China's stronghold in the global shipping and shipbuilding industries and to revitalize the U.S. shipbuilding industry. The port fees will be rolled out in phases starting October 14, 2025. Taiwanese shipping companies Evergreen, Yang Ming, and Wan Hai are expected to benefit from this policy because they use fewer Chinese-built ships.

Details of the U.S. Port Fee Policy

According to the final measures announced by the United States Trade Representative (USTR), starting from October 14, 2025, port fees will be imposed on vessels manufactured in China or operated by Chinese companies entering U.S. ports. The specific fee standards are as follows:

• For vessels operated or owned by Chinese companies and manufactured in China: $50 per net ton, with an annual increase of $30 over the next three years, reaching $140 per net ton by 2028.
• For non-Chinese operators using Chinese-manufactured vessels: $18 per net ton, with an annual increase of $5 over the next three years, reaching $33 per net ton by 2028.
• Alternative fee option: Fees can be charged per unloaded container, starting at $120 per container in 2025, increasing to $250 by 2028.
• Each vessel will be charged a maximum of 5 times per year.
• Vessel owners who order and receive U.S.-manufactured vessels of equal or greater tonnage can receive a fee exemption for up to three years.

Additionally, certain special vessel types (such as vessels under 4,000 TEU, Laker vessels, and specialized vessels) and specific routes (such as the Great Lakes region and the Caribbean) may be exempted.

Reaction from China's Shipbuilding and Shipping Industries

The China Association of the National Shipbuilding Industry expressed "extreme indignation" over this policy, criticizing the U.S. measures as "short-sighted" and blaming the decline of the U.S. shipbuilding industry on its long-standing protectionist policies, unrelated to China. China believes this move will disrupt the global shipping system, increase transportation costs, and potentially exacerbate U.S. inflationary pressures. The Chinese government also stated it would take necessary countermeasures.

According to reports from The Wall Street Journal and Deutsche Welle, in 2024, Chinese-manufactured vessels docked at U.S. ports 6,480 times, accounting for about 35% of the total. This policy is expected to significantly impact Chinese shipping companies like COSCO, which uses Chinese-manufactured vessels for 51% of its U.S. routes.

Composition and Benefits for Taiwan's Big Three Shipping Companies

In contrast, Taiwan's three major container shipping companies—Evergreen (2603), Yang Ming (2609), and Wan Hai (2615)—use a significantly lower proportion of Chinese-manufactured vessels on U.S. routes, as follows:

• Evergreen: Approximately 3% of vessels are Chinese-manufactured
• Yang Ming: Approximately 17% of vessels are Chinese-manufactured
• Wan Hai: 0% of vessels are Chinese-manufactured

According to analysis by Fubon Research and MasterLink Securities, these companies, by using non-Chinese-manufactured vessels on U.S. routes, will not be affected by the port fee and may benefit from increased freight rates and a shift in orders due to rising costs for competitors.

Impact on Shipping Costs and Freight Rates

According to calculations, for a 10,000 TEU, approximately 100,000 net ton Chinese-manufactured vessel operating on American routes, port fees and operating costs starting from October 2025 will account for 20% to 25% of freight rates. With a freight rate of $3,000 per TEU, the single docking cost could reach up to $1.5 million. Although each vessel is charged a maximum of 5 times per year, making costs relatively controllable, it will still create operational pressure for shipping companies relying on Chinese-manufactured vessels.

Additionally, market observations indicate that some shipping companies have begun adjusting their vessel configurations, avoiding U.S. routes with Chinese-manufactured vessels and replacing them with vessels manufactured in Korea, Japan, or Europe. This trend may also affect the geographical distribution of future shipbuilding orders, further weakening China's global market share in shipbuilding.

Potential Advantages for Taiwan's Shipping Companies

Due to the low proportion of Chinese-manufactured vessels, Taiwan's shipping companies will not see a significant increase in operating costs on U.S. routes due to the port fee policy. If market freight rates rise due to increased costs for other shipping companies, Taiwan's shipping companies will be able to maintain their existing cost structure and enjoy higher profit margins.

Additionally, Wan Hai, which currently does not use any Chinese-manufactured vessels on U.S. routes, is expected to be one of the biggest beneficiaries of this policy. Although Evergreen and Yang Ming have some Chinese-manufactured vessels, their proportions are far below the global average of over 25%, providing them with a competitive edge.

References

• 中國造船業怒批美方港口費政策 – DW – 2025年4月19日
• 美擬向中製船舶徵收港口費 首階段10/14生效
• 川普再拿中國船舶開刀加徵靠港費 台灣船業2家受惠業者出爐
• 川普造浪迎轉單 「這類股」成本周焦點｜東森新聞
• U.S. Cracks Down on Chinese Shipbuilding Dominance With Scaled Maritime Fee Plan
• China shipbuilders rip Trump's 'short-sighted' US port fees