News / China looks ready to step in again and put a cap on ocean freight rates

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China’s Ministry for Commerce is again looking to step in to stabilise the container shipping market.

“Our ministry is in talks with the ministry of transport and other related departments to adopt measures to increase shipping capacity and stabilise freight rates,” said Li Xingqian, head of foreign trade, according to Lloyd’s List.

Media speculation indicates that shipping lines could be called to a series of meetings to discuss the container shortage and high rates.

One forwarder told The Loadstar: “Lines will be unhappy ...