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Yangzijiang shares tumble after US proposes fees for Chinese-built ships
The Straits Times
|February 26, 2025
Other Chinese shipping firms also hit as US considers port fees of up to $1.34 million
Shares of mainboard-listed Yangzijiang Shipbuilding tumbled for a second straight day after the United States Trade Representative's (USTR) office proposed imposing a fee on Chinese-built vessels entering US ports.
The stock closed down 9.7 per cent, or 29 cents, to $2.70 on Feb 25, with a hefty 79.7 million shares traded. A day earlier, the counter slumped 7.1 per cent.
Other Chinese shipbuilders and shipping companies were also hit. Hong Kong-listed Cosco Shipping Holdings dropped 1.4 per cent, extending a 4.6 per cent fall a day earlier, while Orient Overseas (International) declined 0.8 per cent, after a 3 per cent loss the previous day.
The USTR in a notice published on Feb 21 laid out its proposed fees and other shipping restrictions on Chinese vessels.
Denne historien er fra February 26, 2025-utgaven av The Straits Times.
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FLERE HISTORIER FRA The Straits Times
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