US port fees looming for Chinese ships

The US is just days away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas.

- LISA BAERTLEIN

"While some observers believe the Oct 14 deadline may be extended — or even scrapped — as part of broader negotiations, the uncertainty has already unsettled carriers, adding another layer of geopolitical risk to fleet deployment strategies," S&P said in a report this week. Trump's administration said fees imposed on ships built, owned or operated by Chinese entities will help pay to revive US shipbuilding.

A law to direct that long-term funding is making its way through the US Congress with strong bipartisan support.