China’s latest port fee expansion targeting U.S.-linked vessels has had a far smaller impact than anticipated, according to a new report from maritime analyst Linerlytica.

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The policy, which took effect on October 14, extended port charges to ships owned or operated by companies with at least 25% U.S. ownership. Yet, despite initial concerns, the fallout has been limited.

Among major carriers, only U.S.-based Matson has been directly affected. Gemini alliance members Maersk and Hapag-Lloyd quickly diverted two U.S.-flagged vessels on their transpacific TP7/WC5 service to bypass the new fees. Meanwhile, CMA CGM’s American subsidiary APL appears to have been spared due to the French carrier’s ongoing vessel construction projects in China.

“The situation remains fluid, with the final definition of the ownership threshold still pending,” Linerlytica noted.

The limited disruption did coincide with a sharp uptick in transpacific freight rates. As of October 18, the Shanghai Containerized Freight Index showed a 32% rise in Shanghai–U.S. West Coast rates to $1,936 per forty-foot container, while Shanghai–U.S. East Coast rates climbed 16% to $2,853.

Analysts expect further rate increases in the coming weeks as shippers rush to move goods before potential tariff changes. U.S. President Donald Trump has threatened to impose an additional 100% tariff on Chinese imports starting November 1 in retaliation for China’s curbs on rare earth exports.

Carriers are also planning a general rate increase on the same date, aiming to lift West Coast prices to $3,000 per forty-foot container. However, Linerlytica cautions that limited cargo volumes could undermine efforts to sustain those higher levels.