OFFICIAL: freight rate surge was caused by market forces; shipping competition is “vigorous”, the U.S. Federal Maritime Commission declares after two year probe
Pictured: a ship sailing toward the dawn. High freight rates of recent years were driven by market forces and the shipping industry is competitive – that is now OFFICIAL. Photo credit: via Pixabay.
High ocean freight rates of recent years were caused by the market forces of supply and demand in a supply chain challenged by the COVID-19 pandemic and an unprecedented surge in consumer demand.
That’s the OFFICIAL finding from the U.S. Federal Maritime Commission, which has carried out a two-year...
