Genco to Move Vessels, Pass on Costs If US Sets China Ship Fees

The largest US-based dry bulk shipper said it is prepared to pass on costs to US exporters or position its ships elsewhere if proposed US fees on Chinese ships go into place.

Genco Shipping & Trading Ltd. has no ships built in the US and does have “a lot of Chinese-built ships,” Chief Executive Officer John Wobensmith said in an interview on Bloomberg Television. He said the company is prepared if Trump goes ahead with fees to counter China’s maritime dominance.

“What we are doing is we will either position our ships elsewhere, there’s plenty of ...