China's newly announced port fee targeting U.S.-linked vessels is expected to have limited impact on container shipping, according to HSBC Global Investment Research, which cites the small number of U.S.-flagged ships operating in global trade.

The move follows earlier U.S. port fee hikes on Chinese maritime assets and is seen as largely symbolic amid broader trade tensions between the world's biggest economies.

The report noted that the fees will be phased in over four stages with escalating rates and include mitigating provisions with fees collected only at the first port of call in multi-port voyages and annual payments capped at five voyages per vessel.

"While the US's role in global commercial shipping is small – holding less than 4% of global fleet ownership and 3% of global shipping orderbook, the 25%+ ownership rule in China's retaliatory measures extends the policy's reach to even third-country vessels owned and operated by entities that have financial ties to the US, thereby casting a wider net over the global fleet," the HSBC analysis said.

Meanwhile, multiple tanker bookings scheduled to deliver crude oil to Chinese ports were cancelled and chartering costs for bulk vessels carrying coal and iron ore rose sharply after the announcement, suggesting market concerns over rising costs.

By sub-sector, HSBC noted that dry bulk is a key beneficiary.

"US agricultural exports are set to face substantial cost disadvantages, which will incentivise Chinese importers to shift sourcing to alternative suppliers such as Brazil and Argentina, lifting ton-mile demand."

Also, Vale, a major Capesize charterer for iron ore to China, is reported to have a sizeable portion of its ownership held by US investors.

Analysts at HSBC said if the policy is enforced, this would remove a substantial portion of "compliant" Capesize fleet from the Brazil-China iron ore trade route, likely leading to a spike in freight rates.

"We note the final interpretation of the 25%+ rules hinges on upcoming implementation details," it added.

For tanker, the withdrawal of US-exposed VLCCs from routes serving China benefits non-impacted VLCC owners which can command higher rates particularly as the market enters the seasonally stronger winter.

"Container shipping faces more manageable disruptions due to lower US involvement," HSBC added.