Inkhabar webdesk

By Lisa Baertlein, Liz Lee and Joe Cash BEIJING/LOS ANGELES (Reuters) -The United States and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world's two largest economies. A return to an all-out trade war appeared imminent last week, after China announced a major expansion of its rare earths export controls and President Donald Trump threatened to raise tariffs on Chinese goods to triple-digits. But after the weekend, both sides sought to reassure traders and investors, highlighting cooperation between their negotiating teams and the possibility they could find a way forward China said it had started to collect the special charges on U.S.-owned, operated, built, or flagged vessels but clarified that Chinese-built ships would be exempted from the levies. In details published by state broadcaster CCTV, China spelled out specific provisions on exemptions, which also include empty ships entering Chinese shipyards for repair. The China-imposed extra port fees would be collected at the first port of entry on a single voyage or for the first five voyages within a year, following an annual billing cycle beginning on April 17. Early this year, U.S. President Donald Trump's administration announced plans to levy the fees on China-linked ships to loosen the country's grip on the global maritime industry and bolster U.S. shipbuilding. An investigation during former President Joe Biden's administration concluded China uses unfair policies and practices to dominate the global maritime, logistics and shipbuilding sectors, clearing the way for those penalties. China hit back last week, saying it would impose its own port fees on U.S.-linked vessels from the same day the U.S. fees took effect. Analysts expect China-owned container carrier COSCO to be most affected, shouldering nearly half of that segment's expected $3.2 billion cost from those fees in 2026. Its commerce ministry on Tuesday urged the U.S. to "rectify its erroneous practices", and pursue dialogue and consultation instead. "If the U.S. chooses confrontation, China will see it through to the end; if it chooses dialogue, China's door remains open," it said. In a related move, Beijing also imposed sanctions on Tuesday against five U.S.-linked subsidiaries of South Korean shipbuilder Hanwha Ocean which it said had "assisted and supported" a U.S. probe into Chinese trade practices. Hanwha said in a message to Reuters it is aware of the announcement and is closely reviewing the potential business impact on the company. Hanwha Ocean's shares sank nearly 6%. China also launched an investigation into how the U.S. probe affected its shipping and shipbuilding industries. FREIGHT FRIGHT "This tit-for-tat symmetry locks both economies into a spiral of maritime taxation that risks distorting global freight flows," Athens-based Xclusiv Shipbrokers Inc said in a research note. A Shanghai-based consultant who advises global companies on trade with China said the new fees may not be very disruptive to the industry and any rising costs probably would be captured in higher prices. "What are we going to do? Stop shipping? Trade is already pretty disrupted with the U.S., but companies are finding a way," the consultant said, asking to remain anonymous as he was not authorised to speak with the media. The U.S. announced last Friday a carve-out for long-term charterers of China-operated vessels carrying U.S. ethane and LPG, deferring the port fees for them through December 10. But ship-tracking company Vortexa identified 45 LPG-carrying VLGCs – 11% of the total fleet – that would still be subject to China's port fee, its Americas analyst Samantha Hartke said. Clarksons Research said in a report that the new port fees could affect oil tankers accounting for 15% of global capacity. Jefferies analyst Omar Nokta estimated that 13% of crude tankers and 11% of container ships in the global fleet would be affected. RETALIATION In a reprisal against China curbing exports of critical minerals, Trump on Friday threatened to slap additional 100% tariffs on goods from China and put new export controls on "any and all critical software" by November 1. Administration officials hours later warned that countries voting in favor of a plan by the United Nations' International Maritime Organization to reduce planet-warming greenhouse gas emissions from ocean shipping this week could face sanctions, port bans, or punitive vessel charges. China has publicly supported the IMO plan. "The weaponisation of both trade and environmental policy signals that shipping has moved from being a neutral conduit of global commerce to a direct instrument of statecraft," Xclusiv said.   Shares in Shanghai-listed COSCO rose more than 2% in early trading on Tuesday. The company said its board had approved a plan to buy back up to 1.5 billion yuan ($210.3 million) worth of its shares within the next three months to maintain corporate value and safeguard shareholder interest. The shipping firm did not immediately respond to Reuters' queries about the port fees. ($1 = 7.1337 Chinese yuan) (Reporting by Lisa Baertlein in Los Angeles, Liz Lee, Joe Cash and Sam Li in Beijing, Heejin Kim in Seoul; Additional reporting by Samuel Shen, Brenda Goh in Shanghai and James Pomfret in Hong Kong; Editing by Stephen Coates and Kim Coghill)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Yantoultra Ngui and Kane Wu SINGAPORE/HONG KONG (Reuters) -Chinese autonomous driving firm WeRide has hired Morgan Stanley and China International Capital Corp (CICC) to work on a secondary listing in Hong Kong, three sources with knowledge of the matter said. The Guangzhou-based company, which listed on Nasdaq in October 2024, is seeking regulatory approval in both Beijing and Hong Kong for the share sale after filing confidentially with the Hong Kong Stock Exchange, the sources said. Details of the offering, including its size, have not been finalised, said two of the sources. The Nasdaq-listed company has a market value of about $3 billion as of Monday's market close. "WeRide is unable to comment on queries regarding a potential listing," the company said in an emailed statement to Reuters on Tuesday. "We remain focused on executing our business strategy and delivering value to our stakeholders." Morgan Stanley declined to comment. CICC did not immediately respond to a request for comment. The sources did not wish to be identified as the matter was private. Some U.S.-listed Chinese companies are seeking to raise capital via secondary listings in Hong Kong. Such moves have been driven partly by concern over potential forced delistings of Chinese companies from U.S. exchanges since trade relations between the world's two largest economies deteriorated sharply this year. Confidential filings allow firms to navigate the regulatory review process without public disclosure, offering flexibility when listing timelines are uncertain. Founded in 2017, WeRide develops autonomous driving technology and operates robotaxi services in China and internationally, according to its official website and announcements. WeRide shares have fallen about 24% so far this year to trade at $10.76 apiece. It reported total revenue of 127.2 million yuan ($17.8 million) in the second quarter, up 60.8% from a year earlier, while its net loss narrowed slightly to 406.4 million yuan from 413.6 million over the same period, according to its latest earnings release in July. The company has partnerships with ride-hailing firms Grab and Uber. Grab announced in August that it had committed a strategic equity investment in WeRide and would work with the company to deploy robotaxis and autonomous shuttles in Southeast Asia. Grab and WeRide are preparing to launch an autonomous vehicle service in Singapore's Punggol district in 2026. Uber and WeRide have partnered to bring autonomous vehicles to the Uber platform. Grab said it is not in a position to comment on WeRide's listing plans. Uber did not immediately respond to a request for comment on Tuesday. ($1 = 7.7771 Hong Kong dollars) ($1 = 7.1363 Chinese yuan renminbi) (Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong Kong; Editing by Muralikumar Anantharaman)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Liz Lee, Yukun Zhang and Heejin Kim BEIJING/SEOUL (Reuters) -China announced sanctions on Tuesday against five U.S.-linked subsidiaries of South Korean shipbuilder Hanwha Ocean amid trade tension between the world's two largest economies, sending the company's shares sharply lower. The commerce ministry's move comes on the day China and the United States implement additional port fees targeting each others' vessels, although China has exempted ships it built. Organisations and individuals in China are prohibited from engaging in transactions, cooperation or related activities with the Hanwha units, the ministry said in a statement. "Hanwha Ocean's U.S.-related subsidiaries have assisted and supported the U.S. government's relevant investigative activities, thereby jeopardising China's sovereignty, security, and developmental interests," it added, without elaborating. Shares of Hanwha Ocean closed down 5.8% after China unveiled the steps, while peer HD Hyundai Heavy slipped 4.1%. Hanwha did not immediately respond to a Reuters request for comment. In a statement, South Korea's foreign ministry said it was currently determining the impact of the sanctions, and planned to communicate with China, relevant ministries and industry to minimise their impact. In August, Hanwha unveiled additional investment of $5 billion in the Philly Shipyard it acquired in 2024 for $100 million, after South Korea pledged to inject as much as $150 billion to help the United States revive its domestic industry. President Donald Trump's administration has said the United States needs help from allies Japan and South Korea to revitalise the troubled shipbuilding sector, which is lagging behind China, especially in turning out warships. Hanwha's domestic rival, HD Hyundai Heavy Industries, the world's largest shipbuilder, is also in talks with companies to acquire U.S. shipyards, Reuters reported in September. Hanwha runs a shipyard in China's eastern province of Shandong that builds modules of ship components, a company filing showed. Hanwha supplies the modules to its shipyard in South Korea for the final assembly, according to the firm. The Trump administration unveiled plans this year to levy fees on China-linked ships to loosen Beijing's grip on the global maritime industry and bolster U.S. shipbuilding. China hit back last week, saying it would impose its own port fees on U.S.-linked vessels on the same day that U.S. fees take effect. China says U.S. measures targeting its maritime, logistics, and shipbuilding industries are a serious violation of international law and fundamental norms of international relations. (Reporting by Liz Lee, Yukun Zhang and Heejin Kim; Additional reporting by Joyce Lee; Editing by Kim Coghill and Clarence Fernandez)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BEIJING (Reuters) -Chinese rare earth magnet companies have been facing tighter scrutiny on export license applications since September, sources say, even before Beijing's move last week to expand controls over the critical minerals used in magnets. The lengthier reviews magnet makers face raise questions about whether China, the top global supplier, is seeking to throttle back magnet shipments, contrary to its commitment to speed up exports in a trade truce with the U.S. in May, to further tighten its grip on the products essential in military and commercial technology. Starting in September obtaining an export license became harder, according to two sources with knowledge of the matter. Applications are now being returned more often with requests for extra information, said one of the sources. Approvals are taking longer, although generally still within the commerce ministry's 45 business day deadline, said the other, but the scrutiny is now similar to April, at the height of the trade war, when lengthy waits for licenses caused magnet shortages that led to shutdowns at automotive factories. The sources declined to comment on exactly how much longer it is taking to obtain licenses or elaborate on the questions that are being asked. Both spoke on condition of anonymity given the sensitivity of the issue in China. China's commerce ministry did not respond to a Reuters fax request for comment on license approvals. Data released on Monday showed China's rare earth exports dropped by 31% in September. It's unclear how much of that decline was driven by magnets because the data does not distinguish between products. "It's not surprising to see lower exports in September as getting a new license became increasingly difficult last month," said one of the sources. Exports of rare earth magnets fell sharply in April and May but grew in June, July and August. Data for September will be released later this month. China is the world's top supplier of rare earths, a group of 17 elements vital in products ranging from electric vehicles and wind turbines to military radars, and tightly controls the export of many types through its licensing system. Beijing expanded those controls last week, sparking anger in the U.S. where President Donald Trump promised more tariffs and retaliatory export bans, although he later struck a more conciliatory tone. There's been a rush of inquiries since the announcement from foreign clients trying to get orders shipped before the new rules take effect on November 8, according to both sources. Adam Dunnett, Secretary-General of the EU Chamber of Commerce in China, said the number one concern for members was still the bottleneck of rare earth product applications waiting for approval. The chamber had seen both approvals and delays for its members over the past several weeks, he added. "We can't say that we've seen a decrease in the level of anxiety or concern," he said. "Some companies have had their wait extended further without any response as to why that is the case." (Reporting by Reuters staff; Editing by Sonali Paul)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BEIJING (Reuters) -Chinese rare earth magnet companies have been facing tighter scrutiny on export license applications since September, sources say, even before Beijing's move last week to expand controls over the critical minerals used in magnets. The lengthier reviews magnet makers face raise questions about whether China, the top global supplier, is seeking to throttle back magnet shipments, contrary to its commitment to speed up exports in a trade truce with the U.S. in May, to further tighten its grip on the products essential in military and commercial technology. Starting in September obtaining an export license became harder, according to two sources with knowledge of the matter. Applications are now being returned more often with requests for extra information, said one of the sources. Approvals are taking longer, although generally still within the commerce ministry's 45 business day deadline, said the other, but the scrutiny is now similar to April, at the height of the trade war, when lengthy waits for licenses caused magnet shortages that led to shutdowns at automotive factories. The sources declined to comment on exactly how much longer it is taking to obtain licenses or elaborate on the questions that are being asked. Both spoke on condition of anonymity given the sensitivity of the issue in China. China's commerce ministry did not respond to a Reuters fax request for comment on license approvals. Data released on Monday showed China's rare earth exports dropped by 31% in September. It's unclear how much of that decline was driven by magnets because the data does not distinguish between products. "It's not surprising to see lower exports in September as getting a new license became increasingly difficult last month," said one of the sources. Exports of rare earth magnets fell sharply in April and May but grew in June, July and August. Data for September will be released later this month. China is the world's top supplier of rare earths, a group of 17 elements vital in products ranging from electric vehicles and wind turbines to military radars, and tightly controls the export of many types through its licensing system. Beijing expanded those controls last week, sparking anger in the U.S. where President Donald Trump promised more tariffs and retaliatory export bans, although he later struck a more conciliatory tone. There's been a rush of inquiries since the announcement from foreign clients trying to get orders shipped before the new rules take effect on November 8, according to both sources. Adam Dunnett, Secretary-General of the EU Chamber of Commerce in China, said the number one concern for members was still the bottleneck of rare earth product applications waiting for approval. The chamber had seen both approvals and delays for its members over the past several weeks, he added. "We can't say that we've seen a decrease in the level of anxiety or concern," he said. "Some companies have had their wait extended further without any response as to why that is the case." (Reporting by Reuters staff; Editing by Sonali Paul)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BERLIN (Reuters) -Shares in Volkswagen were trading 1.2% higher after markets opened on Tuesday, as the German automaker appeared to reassure investors over headwinds from tariffs and weakness in its luxury brands before releasing third-quarter results. "The company appeared to me to be comfortable with current market expectations for the quarter," Pal Skirta, an analyst at Metzler, told Reuters, adding that operating profit had likely benefited from solid sales momentum in the group's core brand. "The company also noted that even if U.S. tariffs are refunded in 2026, 2025 cash flow guidance is not expected to be affected," Metzler said. Analysts at Jefferies said Volkswagen had given a "reassuring message overall" during the call and that third-quarter profitability was expected within guidance with an adjusted margin of 4.3%. (Reporting by Rachel MoreEditing by Madeline Chambers)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)