DHT Says Its Fleet Should Be Exempt from China’s New Port Fees on US-Linked Ships

DHT Holdings, Inc. says that its fleet should not be subject to new Chinese port fees on US-linked vessels that are set to take effect on Tuesday, based on the company’s ownership structure and vessel registration.

The Bermuda-headquartered tanker company stated that each vessel in its fleet “is directly owned by a non-U.S. entity, was built in a non-U.S. jurisdiction, does not fly the U.S. flag and is operated from management companies in Monaco, Norway, Singapore and India.” DHT, which is incorporated under Marshall Islands law, noted that US nationals represent only 20% of its board composition.

The company’s statement comes in response to China’s announcement that it will impose fees on vessels owned, operated, built, or flagged by the United States, as well as those with 25% or more ownership by US-domiciled entities.T he fees, which started at 400 yuan ($56.13) per net metric ton, will escalate to 1,120 yuan ($157.16) by April 2028.

DHT acknowledged the complexity of verifying ultimate beneficial ownership in publicly traded companies. “The Company generally learns the identity of its beneficial owners through public beneficial ownership reports, which are required for any persons with more than 5% ownership of the Company’s common shares, or voluntary disclosures by holders,” the company stated. The company stated that the vast majority of shareholders hold shares through custodians and brokers, making nationality verification difficult.

Based on current beneficial ownership reports, DHT said it is “not aware of U.S. shareholders or reporting groups that have disclosed ownership in, or control over, directly or indirectly, 25% or more of DHT’s issued and outstanding shares or voting rights in the aggregate.” Two US entities hold more than 5% each—Dimensional Fund Advisors LP at approximately 7.2% and FMR LLC at approximately 15.1%—but their combined holdings fall below the 25% threshold.

The Chinese fees represent a direct countermeasure to US port fees on China-linked vessels that are also set to take effect on Tuesday. China’s transport ministry called the US measures “clearly discriminatory” and said they “severely damages the legitimate interests of China’s shipping industry, seriously disrupts the stability of the global supply chain, and seriously undermines the international economic and trade order.”

The US fees target vessels owned, operated, or built in China, with charges of $50 per net ton for Chinese-owned or operated vessels, escalating to $140 per net ton by 2028. Chinese-built vessels face fees of either $18 per net ton or $120 per container discharged, whichever is higher, with rates increasing to $33 per net ton or $250 per container by 2028.

The World Shipping Association warned that both sets of fees “add further complexity and cost to the global network that keeps goods moving and economies connected, and risk harming their exporters, producers, and consumers at a time when global trade is already under pressure.”

DHT operates an international fleet of crude oil tankers in the VLCC segment through integrated management companies in Monaco, Norway, Singapore, and India.

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