1543 ET - Fees proposed by the Trump administration of up to $1.5 million on Chinese-built or flagged ships calling at U.S. ports will add significantly to customers' costs and could put secondary ports at risk of losing business, says Soren Toft, CEO of the world's biggest containership carrier, Mediterranean Shipping. "If it comes out in the present form it's going to have significant consequences," Toft tells attendees at S&P Global's TPM25 conference. The World Shipping Council, which Toft chairs, says the fees would add $600-$800 to the cost of each container, bringing a total impact of $20 billion a year. "A lot of the marginal, the peripheral ports will be at risk," he says, adding MSC would probably have to pull some services from secondary ports, such as Oakland, Calif., "because some trade will be uneconomical." (paul.berger@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 15:43 ET (20:43 GMT)
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