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Shipping companies seek non-Chinese finance to dodge steep US port fees

Operators are seeking alternatives to avoid potential multimillion-dollar charges for American visits

Shipping companies with a widespread form of Chinese financing are rushing to find different funding sources to avoid potential multimillion-dollar fees for US port visits when new Trump administration rules come into force in October.

Operators are seeking alternatives to the “sale and leaseback” deals that make up a high proportion of the $100bn in outstanding financing from Chinese institutions for shipping companies worldwide.

Shipping companies are concerned the arrangements could mean that ships with no other Chinese connection will count as Chinese-owned under new US rules due to be introduced on October 14.

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