Despite a blip, North Europe container spot rates are still heading south
The North Europe component of the Freightos Baltic Index (FBX) unexpectedly jumped 9% today. This propelled ...
Yesterday, president Biden tweeted: “One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%. It’s outrageous — and I’m calling on Congress to crack down on them.” The first shot has been fired, and the language is strengthening. A spokesperson for Senator Klobuchar, who is working on a bill, added: “The ocean shipping companies need to be aware that their day is coming, that their ability to manipulate the market – to purposefully, for their own economic benefit, for their profitability, to really screw American exporters – is over, and that I’m not backing away from this issue.”
This insightful article in The Intercept explains what is being considered by US lawmakers to stem the powers of the box lines, which will be voted on next week. Well worth a read.
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Shipping lines seem unfazed by Chinese 'war games' in Taiwan Strait
Dock strike at Felixstowe 'inevitable', after last-ditch pay talks break down
Shipping lines' move to become integrators 'a compliment' to air freight
New talks at ACAS a last-ditch bid to prevent disruptive strike at Felixstowe port
Despite a blip, North Europe container spot rates are still heading south
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