Return to double-digit spot rate gains looms with new FAK hikes and surcharges
As expected after last week’s surge in spot rate levels, this week saw more modest ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
UNCTAD, the UN’s trade and development body, yesterday warned that surging freight rates in container shipping had implications for policymakers. Far from the expected slump in shipping when Covid hit, as we all know, in fact demand has been high – and so are rates. This four-page document notes the shortage of ships and boxes and the surge in rates. It explains the problems with routes over the past year, and why shortages have occurred. Noting that “no contingency plans were in place”, UNCTAD urges policymakers to consider three recommendations: to support ambitious trade and transport facilitation reforms; promote track and trace; and – perhaps most crucially for the industry, warns that the now-chronically high rates must come under scrutiny, over anti-competitive concerns.
“It is important to ensure that national competition authorities can monitor freight rates and market behaviour … It remains important for policymakers to continue to strengthen national competition authorities in the area of maritime transport and ensure that they are prepared to provide the requisite regulatory oversight.”
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