WSC appoints Soren Toft and Randy Chen as new chair and vice chair
MSC boss Soren Toft and Randy Chen, vice chairman of Wan Hai, have become chair ...
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US president Joe Biden signed an executive order on 9 July designed to promote competition within the US economy and lower prices to consumers, promote higher wages and stimulate innovation and economic growth.
The White House press secretary Jen Psaki said a lack of competition in certain sectors means that workers cannot raise wages and consumer price increases follow.
“In total, higher prices and lower wages caused by lack of competition are now estimated to cost the median American household $5,000 per ...
Comment on this article
Mayur Negandhi
July 15, 2021 at 3:03 amThe President of the most powerful country in the world cannot help ease the surging ocean and domestic carriage freights from these shippers, while the manufacturing companies and consumers bleed while the shipping lines book massive profits in this period. We are need to come out of the covid crisis and ripple effects on shipping together while the shipping lines are in a hurry to book max profit from this crisis.
jon bu
July 16, 2021 at 4:06 amThe reality is without the EU & US coming together and sanctioning the abuse of profiteering from the shipping cartels, China can only stop this. With China being the largest single country winner from this rate increase, both in terms of total profits and market share of ocean freight vessels, they have little incentive pressure rates to go down. They will only react when the rates start to impact their precious export volumes. However, export volumes won’t be impacted for quite some time because the US & EU have foolishly put all of their eggs in the China basket. It is amazing how the EU and the US, being the leaders of so many leading industries and technologies, have essentially led themselves into a scenario where they are forced to choose rotten high-priced Chinese goods. Well done.