CMA CGM Pledges No Surcharges When US Port Fees Kick in [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
coscointl.com/en_ir_ho.asp
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Source: Yahoo! Finance
The French container shipping giant said it was “fully prepared” to make necessary adjustments for customers and maintain its service levels. More from Sourcing Journal Dozens of Containers Fall Off Cargo Vessel at Port of Long Beach Cosco, OOCL Face $2 Billion Hit From Impending US Port Fees on Chinese-Built Ships Sheinbaum Says $22 Billion Plan Will Make Mexico 'A Port Powerhouse' The announcement followed an HSBC analyst report estimating that the liner's partners in the vessel-sharing Ocean Alliance , state-owned Chinese ocean carriers Cosco Shipping and Orient Overseas Container Line (OOCL) , could stand to pay more than $2 billion in port fees in 2026. With the changes, Cosco and OOCL are likely to sit out more trans-Pacific U.S.-bound routes in favor of CMA CGM and their other partner, Evergreen. Overall, the vessel-sharing alliance operates 18 service lines on the trans-Pacific trade lane, according to data from CMA CGM. It is unclear how many vessels each company
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