The domestic shipping stocks are strong amid news that the United States is pushing for measures to impose fees on Chinese shipping companies and Chinese vessels. It appears that many investors are expecting a windfall.
HMM shares traded at 20,200 won on the KOSPI market at 9:09 a.m. on the 24th. The stock price rose by 8.19% (1,530 won) compared to the previous trading day. Heung-A Shipping, STX Green Logis, KSS LINE, and Korea Line Corporation are also experiencing gains.
The U.S. Trade Representative (USTR) decided to push for measures to impose fees on Chinese shipping companies and Chinese vessels, stimulating investor sentiment. This proposal includes provisions for shipping companies operating multiple vessels, including Chinese ships, to pay a fee of up to $1.5 million (approximately 2.15 billion won) based on the conditions for Chinese vessels entering U.S. ports.
According to the global investment bank Bank of America, HMM has the lowest share of Chinese vessels in its fleet among major shipping companies at 2%. Taiwanese shipping companies Wan Hai and Yang Ming account for 8% and 10%, respectively, while German company Hapag-Lloyd and Danish company Maersk each have 14%. MSC, the world's largest shipping company, has a 25% share of Chinese vessels in its total fleet.