USTR exempts STS crane orders arriving by May, 2026 from 25% tariff
NewsUnder new rules from the US Trade Representative, ship-to-shore cranes ordered before May 14, 2024, and arriving by May 14, 2026, will avoid a 25% tariff on imports from China.
PSA buys into Hong Kong
Singapore’s PSA International has secured a foothold in Hong Kong’s container port by agreeing to pay Sun Hung Kai Properties (SHKP) HK$2.6 bill (US$333 mill) for its 57 per cent stake in Asia Container Terminals (ACT). The latter owns two berths at Container Terminal 8 (West) at the Kwai Chung container port.
The deal was struck just 10 days after SHKP bettered PSA’s HK$685 mill offer to buy Hong Kong Land’s 28.5 per cent stake in ACT, thereby doubling its own stake.
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This complete item is approximately 260 words in length, and appeared in the December 2004 issue of WorldCargo News, on page 6. To access this issue download the PDF here.
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