Carriers quizzed by China over transpacific rate surge
Cosco and Maersk are among six companies asked by China’s transport ministry to explain a recent rate rise on the Sino-US trade. However, carriers and analysts argue that the markup is mainly driven by a rally in US demand and the current ship capacity is more than that on offer a year ago
Shippers’ accusation of profiteering by carriers would only make sense if China was still a ‘planned economy’, said one executive
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