ShippingWatch

6 days ago | shippingwatch.com | Maz Plechinger

Chinese-built ships will pay $50 per ton to enter US ports in the first phase of the pending tax, which goes into effect in 180 days. The US government has now announced its anticipated port tax on ships built in China. The tax will take effect immediately, but will be $0/ton for the first 180 days, increasing to $50/ton on October 14. A rate that will increase on an annual basis for the next three years albeit to an unspecified amount.

1 week ago | shippingwatch.com | Nidaa Bakhsh

The US says any refinery, company or broker that facilitates the trade puts itself ”at serious risk”. The US Treasury Department’s Office of Foreign Assets Control (Ofac) has sanctioned a Chinese independent refiner, five tankers and several companies for facilitating Iran’s oil shipments.

1 week ago | shippingwatch.com | Nidaa Bakhsh

Andrew Cutler, who has been in the role for 13 years, has decided to step away at the end of the year. He is being replaced by Mike Hall, currently deputy CEO. Andrew Cutler, chief executive at The Britannia Group, a UK-based P&I insurer, has decided to resign after 13 years in the role.

1 week ago | shippingwatch.com | Nidaa Bakhsh

London-listed owner says sanctioned tankers which will likely be removed from the trading fleet will help with supply-side fundamentals. Tufton Assets, a UK-listed shipowner, says there remains significant uncertainty on the net outcome of geopolitical changes.

1 week ago | shippingwatch.com | Daniela De Lorenzo

Vehicles are piling up in ports as carmakers strive to avoid US tariffs - but car carriers decline to speculate on what awaits. The swinging decisions and mixed signals coming from the US daily are not giving car carriers enough certainty to make any predictions on the current situation for deep sea transportation of vehicles.