OOIL: The postponement of port fees is a significant benefit for shipping and global trade

Orient Overseas (00316.HK) stated that, with the joint efforts of China and the United States, the port fees imposed under Section 301 of the U.S. Trade Representative's Office have been suspended since yesterday (10th) for a period of one year. The company believes that the consensus reached by both parties to temporarily suspend bilateral port fees is a significant benefit for the shipping and global trade sectors.

The company reiterated that since the port fees took effect on the 14th of last month, it has maintained a comprehensive service network and operational strength, without withdrawing from the market or reducing service quality. During this period, it strictly adhered to all relevant regulations, ensured timely payment of port fees, and guaranteed a smooth service chain, while also being meticulous about compliance requirements. In the future, it will continue to invest in service upgrades to further consolidate its leading position in the U.S. market