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6h ago

China Blacklists U.S.-Linked Hanwha Units as Port Fee Fight With U.S. Intensifies

Beijing says the five subsidiaries aided a U.S. probe into China's maritime sector, triggering a ban on transactions with them.

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Overview

  • China’s commerce ministry barred Chinese individuals and organizations from any transactions, cooperation or related activities with five Hanwha Ocean subsidiaries tied to the United States.
  • The listed entities are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp.
  • Beijing framed the action as a countermeasure, alleging the U.S.-related units supported the USTR’s Section 301 investigation into China’s maritime, logistics and shipbuilding sectors.
  • The announcement coincided with new reciprocal port fees on U.S.- and China‑linked vessels taking effect, with China exempting ships it built.
  • Hanwha Ocean shares fell roughly 5%–8% in Seoul following the move, and South Korea said it is assessing the impact as China’s transport ministry pursues a probe that could lead to additional steps.