US tariffs threaten Greek shipping industry

By Ahmet Gencturk

ATHENS (AA) - The tariffs the US plans to impose on Chinese-built ships and shipping companies that call at US ports threaten the Greek shipping industry, which is among the largest in the world, the Kathimerini newspaper said Wednesday.

The newspaper drew attention to the presence of many Greek shipping companies operating Chinese-built ships, in reference to a plan by the United States Trade Representative (USTR) that proposes to charge up to $1 million from each Chinese-owned and up to $1.5 million for each port call.

As such, the Greek shipping industry, an essential pillar of the country’s economy, would be severely affected by the tariffs, it added.

Citing sources in the industry, it maintained that many tools with which non-Chinese management companies can manage the burdens are derived from tariffs.

It added, however, that additional costs the tariffs would cause would be passed on to charterers and shippers, and consequently to customers in the form of inflation.​​​​​​​