News / Yang Ming chiefs allay fears US wants lower rates and review fleet strategy

Cheng Cheng-Mount. Photo: Cecilia Chang

Taiwanese shipping line Yang Ming’s senior management have dismissed concerns that US President Joe Biden’s recent executive order aims to suppress rising container freight rates.

At an online investors’ conference yesterday, Yang Ming chairman Cheng Cheng-mount and general manager Du Shu-chin said they believed the Biden administration is really concerned with detention & demurrage (D&D) fees.

Mr Biden signed an executive order on 9 July said to be designed to promote competition within the US economy, lower prices to consumers, higher wages ...