25th October 2025 – 31st October 2025
LOCAL NEWS
No news reported.
INTERNATIONAL NEWS
1. US and China declare truce as they decide to suspend port fees dueling port fees that disrupted trade for a year and reach deal to ease tariffs
During a meeting of Presidents Donald Trump and Xi Jinping at Busan, South Korea, on Thursday, 30th October 2025, a series of a series of announcements were made bridging trade between the world's largest economies.
TARIFFS DEAL
In particular, China has agreed to suspend export controls on rare earths - critical for technology from electric vehicles to smartphones - while Trump has said China will also buy "massive" amounts of soybeans, and other farm products.
The United States will also immediately reduce tariffs on Chinese goods linked to fentanyl trade from 20% to 10% effective immediately.
Beijing confirmed the deals, adding that both nations agreed to extend for one year the suspension of reciprocal tariffs and retaliation measures. Washington also paused the expansion of its export control list targeting Chinese companies, a policy that had previously triggered strong pushback from China.
Despite the tariff reductions, goods from China will still face a duty burden of 47%, Trump and U.S. Trade Representative Jamieson Greer said Thursday , 30th October 2025, while traveling to the U.S. from South Korea.
“A variety of other tariffs still remain. Section 301 tariffs from the original, a variety of Section 232 tariffs,” Greer said. “Some of these tariffs are, as the president mentioned, around 40%. For some individual products it may go up to 100%, but as a general matter it’s about 45, 47%.”
SUSPENSION OF PORT FEES
Furthermore, the U.S. and China agreed to suspend tit-for-tat fees on each other's ships that became a major disruption in the broader trade war between the world's two largest economies and pushed up ocean freight costs.
Presidents Donald Trump and Xi Jinping, the two countries agreed to suspend retaliatory fees on each other’s ships for 12 months, easing tensions in their broader trade dispute.
Following the deal, U.S. Treasury Secretary Scott Bessent confirmed that the Section 301 actions were being put on hold, while China’s Ministry of Commerce announced a matching suspension of its countermeasures on U.S.-linked ships.
The U.S. Trade Representative's office did not immediately comment whether the pause covered other U.S. penalties, including those on non-U.S. auto carriers built outside of China.
China's Ministry of Commerce said in a statement that the suspension applied to Section 301 penalties "concerning China's maritime, logistics, and shipbuilding sectors." It added that China also will suspend its on countermeasures and fees on U.S.-linked ships.
The pause is expected to deliver significant financial relief to shipping companies such as China’s COSCO, U.S.-based Matson, and Singapore’s High-Trend International Group, which said the move would lower costs, stabilize cash flow, and boost investor confidence.
ICS welcomed the agreement between President Trump and President Xi Jinping, noting that they have involved in consultations with the United States Trade Representative (USTR) since the beginning of the Section 301 investigation, and with the government of China, and we look forward to receiving confirmation on these reports and further details.
“The reports of the U.S. agreement to suspend the Section 301 port fees on China’s maritime, logistics, and shipbuilding industries by one year, and the agreed reciprocal suspension of China’s countermeasures targeting U.S.-linked ships, are a welcome and positive development.”… said ICS in a statement.
According to experts, while the postponement offers a short-term reprieve for shipowners, it does not resolve the wider question of whether such differential port charges could become a longer-term feature of maritime trade policy. For now, the focus turns to negotiations — and whether this developmentwill last long enough to calm one of the shipping industry’s newest and most unusual flashpoints, something that has already seen two of Hong Kong’s largest shipowners – Pacific Basin and Seaspan – relocate to Singapore to avoid the aggressive American fees.
Although official documentation of Thursday’s agreement has yet to be published, both countries confirmed that the provisions will be renegotiated annually. In addition, the Ministry of Commerce said in a press release that both sides will work to resolve economic and trade issues and finalize terms as soon as possible.
Related Articles:
Reuters 30/10 - Trump, Xi agree to pause dueling port fees that disrupted trade
Reuters 30/10 - Trump shaves China tariffs in deal with Xi on fentanyl, rare earths
Safety4Sea 31/10 - US and China decide to suspend port fees for a year
Seatrade Maritime 30/10 - USTR and China port charges one-year truce
Splash247 30/10 - Port fee showdown postponed as US and China return to talks
RBN Energy 30/10 - U.S. China Talks Yield an Year-Long Pause in Port Fees
2. China passes revised Maritime Law
At the 18th session of the 14th National People’s Congress Standing Committee, which took place on Tuesday, 28th October 2025, China’s top legislature passed on 28 October the country’s newly revised Maritime Law, which will take effect on May 1, 2026.
The main revisions are as follows:
First, it aims to unify the legal application for domestic and international maritime cargo transport, better coordinate both domestic and international markets, and further promote the development of shipping and trade.
Second, it seeks to appropriately adjust the rights and obligations of parties involved in maritime activities, reasonably allocate responsibilities and risks, and foster the formation of clearer and more stable market expectations.
Third, in response to the practical need for the digitalization of shipping documents, it adjusts the rights and obligations of parties in maritime activities and clarifies the legal status and application rules for electronic transport records, to foster stable market expectations and provide an institutional guarantee for shipping industry's digital transformation.
Fourth, to meet new requirements for marine environmental protection, the law introduces a new chapter on liability for ship oil pollution damage, further strengthening the legal framework for marine ecological conservation.
Fifth, it optimizes the rules governing the application of law in foreign-related matters, stabilizes expectations for legal application, and better protects the legitimate rights and interests of Chinese and foreign parties.
Related Articles:
China Daily 29/10 - China's top legislature concludes standing committee session
Safety4Sea 31/10 - China passes revised Maritime Law coming into force in May 2026
SeaTrade Maritime 31/10 - China passes revised Maritime Law
3. Tokyo MOU Port State Control Committee 36th Meeting
The Port State Control Committee, governing body of the Memorandum of Understanding on Port State Control in the Asia-Pacific Region (Tokyo MOU), held its 36th meeting in Hong Kong, China, from 20 to 23 October 2025.
The meeting was attended by all 22 member Authorities of Australia, Canada, Chile, China, Fiji, Hong Kong (China), Indonesia, Japan, Republic of Korea, Malaysia, Marshall Islands, Mexico, New Zealand, Panama, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Thailand, Vanuatu and Vietnam. Observers of Cambodia, Macao (China), the Abuja MOU, the Black Sea MOU, the Caribbean MOU, the Indian Ocean MOU, the Paris MoU, the Viña del Mar Agreement, ILO and IMO were also present.
The Committee reviewed and approved the report on the Concentrated Inspection Campaign (CIC) on Crew Wages and Seafarer Employment Agreement (MLC) in 2024. The Committee noted the progress of the ongoing joint CIC with the Paris MoU on Ballast Water Management (BWM) in 2025. The Committee also agreed in principle to the arrangements and the conduct of the joint CICs with the Paris MOU on cargo securing in 2026 and on enclosed space entry in 2027.
Furthermore, the Committee was informed of activities relating to reviewing and enhancing inspection campaign methodologies; where three focused inspection campaign (FIC) trials on Fire Safety, Pilot Transfer Arrangements and EPIRB were conducted. The Committee agreed to continue further FIC trials to refine methodologies for future joint Inspection Campaigns with the Paris MoU. In addition, the Committee approved to conduct a FIC on insurance certificates under the International Convention on Civil Liability for Oil Pollution Damage (CLC) in concert with the Paris MoU.
The Committee also reviewed the results of the trial for production and publication of the lists of high-performing companies and under-performing companies and endorsed the implementation of the publication of company performance lists on a quarterly basis on the Tokyo MOU website starting 1 January 2026.
Additionally, the Committee considered and adopted the guidelines for PSCOs on enhanced machinery and maintenance inspections and guidelines for PSCOs on Inert Gas System of Tankers. In addition, it approved the updates to several existing guidelines based on the work done by the intersessional working group on review of PSC guidelines to align with recent amendments to relevant IMO instruments.
The Committee considered and adopted the guidelines for PSCOs on enhanced machinery and maintenance inspections and guidelines for PSCOs on Inert Gas System of Tankers. In addition, it approved the updates to several existing guidelines based on the work done by the intersessional working group on review of PSC guidelines to align with recent amendments to relevant IMO instruments.
Related Articles:
Safety4Sea 29/10 - Tokyo MOU Port State Control Committee: Key outcomes
4. European Commission unveils 2026 work programme
On the 21st October 2025, the European Commission unveiled its Work Programme for 2026, which outlines a series of actions to help build a more sovereign and independent Europe.
The work programme, addresses current and future challenges arising from threats to security =, to conflicts and geopolitical tensions, to risks to our economy and industry, and accelerating climate change.
The work programme doubles down on the current core priorities of the Commission by aiming to strengthen competitiveness, lead in clean and digital innovation, strengthen our unique social model and ensure collective security.
ECSA provided an update on a few tax-related topics connected to the Work Programme.
Among the new initiatives scheduled for 2026, the EC intends to propose an Omnibus on Taxation in the second quarter.
Moreover, the EC presented a list containing several taxation-related files which are planned for withdrawal. The proposal on “rules to prevent the misuse of shell entities for tax purposes,” previously discussed in the TWG, has been dropped by the EC due to a lack of progress.
Among other withdrawn files, the following proposals are mentioned:
- a COUNCIL DIRECTIVE implementing enhanced cooperation in the area of financial transaction tax.
- a COUNCIL DIRECTIVE laying down rules on a debt-equity bias reduction allowance and on limiting the deductibility of interest for corporate income tax purposes
- a COUNCIL REGULATION on the methods and procedure for making available the own resources based on the Emissions Trading System, the Carbon Border Adjustment Mechanism, reallocated profits and the statistical own resource based on company profits and on the measures to meet cash requirements
More information can be obtained in this factsheet.
Related Articles:
European Office of Cyprus 27/10 - Commission unveils 2026 work programme
EU: Sustainability initiatives in the Commission 2026 Work Programme, Julia Voskoboinikova
Euraxess - European Commission 30/10 - Questions and answers on the 2026 Commission work programme
5. VPS: Net-Zero Framework delay shifts focus to EU ETS and FuelEU
The decision to postpone the IMO Net Zero Framework increases the likelihood that regional legislation and Emission Trading Schemes (ETS) will emerge as alternatives in response to the delay of the global framework. In light of recent developments, the EU ETS, which was initially viewed as transitional legislation, may now play a more significant role as a leading example for other regions to follow in implementing ETS.
While much attention has been focused on the latest MEPC decision and its potential impact on global shipping’s decarbonization efforts, several important developments within the EU, particularly under the FuelEU and ETS frameworks, have perhaps been overlooked. On 8 October 2025, the European Commission issued new Guidelines for Reporting and Verification of Actual Methane Slip Factors. For the first time, shipowners are now able to replace conservative default methane values with measured data, provided the data is verified in accordance with IMO Resolution MEPC.402(83). Currently, FuelEU default tables only account for CO₂ and do not include methane (CH₄) or nitrous oxide (N₂O) factors for many new or renewable fuels, such as:
- Bio- and e-methanol
- Ammonia
- Hydrogen and other Renewable Fuels of Non-Biological Origin (RFNBOs)
- Dual-fuel engines (where N₂O formation can be significant)
This means that, without measured data, these fuels are not yet fully creditable or verifiable under either FuelEU or ETS. As a result, there is a risk of both under- and over-reporting of greenhouse gas (GHG) emissions intensity, potentially leading to higher emissions costs.
Fortunately, a solution exists. IMO Resolution MEPC.402(83) provides guidance on how to measure methane (CH₄) and nitrous oxide (N₂O) emissions onboard, while the EU's October 2025 Guidelines outline the process for reporting verified CH₄ data under FuelEU, with N₂O reporting procedures expected soon. It is crucial for shipowners and operators to take action now, as from 2025, voyages falling under the EU ETS 2026 cycle will require the pricing and verification of all combustion-related GHGs—CH₄, CO₂, and N₂O. At present, FuelEU does not offer default methane or nitrous oxide factors for new fuels, and only measured values can ensure accurate GHG accounting and minimize exposure to higher ETS costs.
Related Article:
Safety4Sea 31/10 - VPS: Net-Zero Framework delay shifts focus to EU ETS and FuelEU
6. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 1: US Treasury Report for week 25/10/2025 – 31/10/2025
7. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 2: Worldwide Threat to Shipping (WTS) Report, for the period between 01/10/2025 – 29/10/2025
Nothing important to report from Local News, the ILO, ECSA and the House of Representatives.