After China imposed a special port fee on U.S. ships, port congestion and rising shipping prices have drawn global attention!
On October 22, Bloomberg reported: "In response to the U.S. charging port fees on Chinese ships since April, China officially imposed a special port fee on ships with a holding of no less than 25% in the U.S. on October 14. As of the 19th, the average time for ships to arrive at Chinese ports was 2.66 days to berth, the longest this year, an increase of 17% compared to the previous week. The Sino-U.S. maritime friction has also pushed up shipping prices, with the booking price for ultra-large crude oil tankers from the Middle East to China reaching nearly $84,000, up 48% compared to before China's announcement. As the world's largest importer of commodities, if the congestion at Chinese ports continues, it may affect the global supply chain."
[Witty] The Sino-U.S. maritime friction is clearly a port game without winners. The port congestion and sharp rise in shipping rates caused by China's imposition of a special port fee on U.S. ships seem to be a reciprocal countermeasure, but in fact, it exposes the vulnerability of the global shipping system. The U.S. first raised fees under the pretext of protecting its domestic shipbuilding industry, and China's countermeasures are understandable. However, the cost of the game between the two sides is being borne by the global trade chain. A 48% increase in shipping prices and record-long port delays will eventually be converted into the cost of raw materials, which will hit both Chinese and American companies and consumers. The U.S. wants to curb China's shipbuilding industry, but forgot that the global supply chain has been deeply integrated; although China's countermeasures protect its rights, it also needs to be cautious about the impact of congestion on its status as the world's factory. This game has no winner, and only through dialogue and consultation can we avoid falling into a vicious cycle of mutual harm in global trade!
Original article: www.toutiao.com/article/1846673919984643/
Statement: The article represents the views of the author.