UN urges authorities to 'monitor freight rates' and 'strengthen competition'

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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 ...