News / Flexport: 'What we want is predictability and stability, not just dirt cheap rates'

Flexport has told customers it welcomes the newfound riches of the shipping lines – and that the “last thing” the industry needs is another box line bankruptcy.

At a customer event last week, chief executive Ryan Petersen said: “The shipping lines are finally turning a profit, and they built these huge expensive ships, so let’s not get too upset.

“It’s a relatively competitive market – less than it was, but it’s still competitive. And then China stepped in [to encourage rate stabilisation]. If ...