What is the Harbor Maintenance Fee (HMF)?
The Harbor Maintenance Fee (HMF) is a charge levied on the value of commercial cargo loaded or unloaded from vessels at U.S. ports. This fee is critical to ensure the maintenance and operation of U.S. harbors and ports, playing a significant role in the country’s freight and shipping industry. The HMF helps fund the U.S. Army Corps of Engineers for harbor maintenance projects, ensuring efficient and safe navigation channels for commercial vessels.
How is the HMF Calculated?
The calculation of the Harbor Maintenance Fee is based on a percentage of the value of the cargo. This percentage is subject to change, and shippers should stay updated on the current rate. The fee is usually collected by the U.S. Customs and Border Protection (CBP) and is typically a standard cost across all U.S. ports. Understanding how the HMF is calculated is crucial for businesses involved in international shipping and trade, as it affects the overall cost of freight and transportation.