DHT Holdings, Inc. has announced that its fleet will not be affected by the new Chinese port fees for vessels linked to the US, which will start on Tuesday. This decision is based on the company's ownership structure and where its ships are registered.

The company, which is based in Bermuda, explained that each of its vessels is "owned directly by a non-U.S. entity, built outside the U.S., does not carry the U.S. flag, and is managed by companies located in Monaco, Norway, Singapore, and India." DHT is incorporated under the laws of the Marshall Islands and pointed out that only 20% of its board members are U.S. citizens.

This announcement comes after China revealed it would impose fees on vessels that are owned, operated, built, or registered in the U.S., or those with 25% or more ownership by U.S.-based entities. The fees will start at 400 yuan ($56.13) per net metric ton and increase to 1,120 yuan ($157.16) by April 2028.

DHT recognized the challenges in tracing ownership in publicly traded companies. The company said it usually finds out about its beneficial owners through public reports, which are required if an individual owns more than 5% of its shares, or through voluntary disclosures from shareholders. However, most shareholders hold their shares through brokers, making it hard to verify their nationality.

DHT mentioned that, according to current ownership reports, it is "not aware of any U.S. shareholders or groups that have disclosed owning or controlling 25% or more of DHT's shares." Two U.S. companies have more than 5% each—Dimensional Fund Advisors LP at about 7.2% and FMR LLC at around 15.1%—but their total does not reach the 25% mark.

The fees imposed by China are a direct response to U.S. fees on vessels related to China, which will also take effect on Tuesday. China's transport ministry criticized the U.S. measures as "clearly discriminatory," claiming they "seriously damage the legitimate interests of China's shipping industry, disrupt the global supply chain, and undermine the international economic and trade order."

The U.S. fees target vessels that are owned, operated, or built in China, charging $50 per net ton for Chinese-owned or operated vessels, with this rate increasing to $140 per net ton by 2028. Chinese-built vessels will be charged either $18 per net ton or $120 per discharged container, whichever is higher, with rates rising to $33 per net ton or $250 per container by 2028.

The World Shipping Association cautioned that both sets of fees "will add complexity and cost to the global network that moves goods and connects economies, potentially harming exporters, producers, and consumers when global trade is already under stress."

DHT operates a global fleet of crude oil tankers focused on the VLCC segment through its management companies in Monaco, Norway, Singapore, and India.