News / US shippers back change in shipping law as transpac rates look set to breach $20k

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Ocean carriers may hold sway with the supply and demand pendulum swung firmly in their favour, but their customers are looking ahead to prevent another series of events bringing unprecedented rate inflation.

Volatility in ocean shipping, the critical arteries for world trade, initially caused by the pandemic which exposed the frailties in US transport infrastructure, has led to accusations by shippers that carriers are exploiting the difficulties and profiteering.

This led to last week’s formal complaint by MCS Industries to the Federal ...