Nigerian importers are expected to pay more for freight and clearing as the United States imposes new charges on Chinese-built vessels, affecting top global shipping lines and raising costs by US$3.2 billion by 2026, report the Lagos Guardian.
From now on, the US Trade Representative will charge Chinese carriers US$80 per net tonnage per voyage, while non-Chinese operators using Chinese-built ships will pay US$23 per net tonnage or $154 per TEU. Chartered vessels are also subject to the fees.
Shipping lines affected include Cosco, ZIM, ONE, CMA CGM, MSC, Hapag-Lloyd, Maersk, Evergreen, HMM and OOCL. Cosco faces $1.53 billion in charges, Seaspan $1.31 billion, ZIM $510 million, and CMA CGM $335 million.
Transport expert Dr Oluwasegun Musa said the charges will be passed on to consumers. He warned that Nigeria's use of the CIF incoterm means higher freight rates will increase import duties and market prices.
Musa added that the policy could worsen inflation in Nigeria's import-dependent economy. AREFFN's Taiwo Fatomilola said vehicle importation costs may rise by $300 per unit, with clearing charges also increasing.
CPPE Chief Executive Dr Muda Yusuf said the policy will make US imports more expensive for Nigeria, especially vehicles and wheat. He estimated Nigeria's trade with the US at 15 to 20 per cent of total volume.
Yusuf warned that nigerian importers may shift trade away from the US to cheaper alternatives. He said the policy could ultimately hurt American consumers and businesses more than it helps US shipping firms.
APFFLON's Mr Clinton Okoro said Nigerian-owned vessels operated by Clarion Shipping Companies will also be affected, with freight charges for imports and exports expected to rise in the coming months.
SeaNews Turkey
From now on, the US Trade Representative will charge Chinese carriers US$80 per net tonnage per voyage, while non-Chinese operators using Chinese-built ships will pay US$23 per net tonnage or $154 per TEU. Chartered vessels are also subject to the fees.
Shipping lines affected include Cosco, ZIM, ONE, CMA CGM, MSC, Hapag-Lloyd, Maersk, Evergreen, HMM and OOCL. Cosco faces $1.53 billion in charges, Seaspan $1.31 billion, ZIM $510 million, and CMA CGM $335 million.
Transport expert Dr Oluwasegun Musa said the charges will be passed on to consumers. He warned that Nigeria's use of the CIF incoterm means higher freight rates will increase import duties and market prices.
Musa added that the policy could worsen inflation in Nigeria's import-dependent economy. AREFFN's Taiwo Fatomilola said vehicle importation costs may rise by $300 per unit, with clearing charges also increasing.
CPPE Chief Executive Dr Muda Yusuf said the policy will make US imports more expensive for Nigeria, especially vehicles and wheat. He estimated Nigeria's trade with the US at 15 to 20 per cent of total volume.
Yusuf warned that nigerian importers may shift trade away from the US to cheaper alternatives. He said the policy could ultimately hurt American consumers and businesses more than it helps US shipping firms.
APFFLON's Mr Clinton Okoro said Nigerian-owned vessels operated by Clarion Shipping Companies will also be affected, with freight charges for imports and exports expected to rise in the coming months.
SeaNews Turkey
