Greek shipowners face new US port measures with composure

Yiannis Coustas (Danaos Corporation): The head of Danaos described the measures as “much less punitive than initially made out”, noting that for container ships, the charges appear manageable and are not expected to cause serious disruptions in the industry.

Panos Laskaridis (Lavinia Corp): Mr. Laskaridis said that the measures are milder than initial concerns, especially for Chinese-built ships that are not owned by Chinese companies. He estimated that the cost for a large bulk carrier carrying coal would correspond to approximately 5%-6% of the cargo value, a percentage that is considered tolerable given market conditions. Shipping has been through much bigger crises – wars, economic collapses. Strong companies with large fleets will withstand, perhaps even emerge stronger. Smaller ones may be pressured, but the industry as a whole is not in danger”,

Aristides Pittas (Euroseas-Eurodry): The chairman and CEO of Euroseas warned that the proposed fees could bring about fundamental changes in global trade patterns and volumes, if implemented as proposed. He stressed that shipping thrives in environments of uncertainty and inefficiency.

Overall, Greek shipowners seem to be taking the new measures calmly, acknowledging that, while there are impacts, they are manageable and are not expected to cause serious disruption to the shipping industry.

Exceptions are provided for Chinese-built ships that are not owned or managed by Chinese interests, such as:

Tankers and general cargo ships under 55,000 DWT
Bulk carriers under 80,000 DWT
Ships in ballast or at distances less than 2,000 nautical miles
Special purpose ships (chemicals, Lakers, etc.)
Ships owned by the United States (at least 75% by natural or legal persons of the United States) included in subsidized programs.