Sudden spike belies 'boring' transatlantic airfreight market
On the face of it, transatlantic air trade between Europe and North America has been ...
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
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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