Yangzijiang Plunges 9% After US Proposes Port Fees on Chinese-Made Vessels

The Strait Times02-25

Shares of mainboard-listed YZJ Shipbldg SGD 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...

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manta76
02-25
manta76
Isnt wat USA doing against WTO rules ? Or they don care ?

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Or they don care ?&nbsp;","listText":"Isnt wat USA doing against WTO rules ? Or they don care ?&nbsp;","text":"Isnt wat USA doing against WTO rules ? Or they don care ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/407277622104400","repostId":1101713670,"repostType":4,"repost":{"id":"1101713670","kind":"news","pubTimestamp":1740447675,"share":"https://ttm.financial/m/news/1101713670?lang=en_US&edition=fundamental","pubTime":"2025-02-25 09:41","market":"sg","language":"en","title":"Yangzijiang Plunges 9% After US Proposes Port Fees on Chinese-Made Vessels","url":"https://stock-news.laohu8.com/highlight/detail?id=1101713670","media":"The Strait Times","summary":"Shares of mainboard-listed  $YZJ Shipbldg SGD(BS6.SI)$ tumbled for a second straight day after the United States Trade Representative’s (USTR) office proposed imposing a fee on Chinese-built vessels e","content":"<div>\n<p>Shares of mainboard-listed  YZJ Shipbldg SGD 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...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/spore-listed-yangzijiang-shipbuilding-shares-tumble-after-us-proposes-port-fees-for-chinese-built\">Source Link</a>\n\n</div>\n","source":"lsy1601382813636","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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This is after the counter slid 7.1 per cent to close at $2.99 on Feb 24.The USTR in a notice published last Friday (Feb 21) laid out its proposed fees and other shipping restrictions on Chinese vessels.These include port entrance fees of up to US$1 million (S$1.34 million) per vessel owned by Chinese maritime transport operators, or a US$1,000 charge per net tonne on the vessel’s cargo capacity.Non-Chinese maritime transport operators operating Chinese-built vessels would pay up to US$1.5 million per port entry, while those with more than 50 per cent Chinese-built ships in their fleet would pay US$1 million per entry regardless of origin.The fee drops to US$750,000 for fleets with 25 to 50 per cent Chinese-built vessels, and US$500,000 for fleets with less than 25 per cent.Other proposals include mandating that a portion of US exports to be shipped on US flagged vessels, or America-built ships.The proposals come amid a US probe into China’s shipping dominance over the past two decades. A January report by the USTR said that China’s share of global shipbuilding tonnage surged to over 50 per cent in 2023, from 5 per cent in 1999.In contrast, US shipyards built 70 ships in 1975, but now produce just five per year.On Feb 24, Yangzijiang Shipbuilding’s listed investment subsidiary - Yangzijiang Financial - posted strong earnings for the second half ended Dec 31, 2024, registering a net profit of $197.3 million, an increase of about four times from $39.3 million a year ago. Yangzijiang Shipbuilding is expected to report its fourth quarter earnings for the 2024 financial year by Feb 28.Yangzijiang Shipbuilding’s share price at 10 am, Feb 25th.","news_type":1,"symbols_score_info":{"BS6.SI":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":4,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1101713670","isCrawlerRequest":true}