WASHINGTON — Tow truck operators, fighting allegations of rampant price gouging against trucking companies, say insurance companies should take some of the blame for spiraling costs.
The issue of alleged price gouging of motor carriers by unscrupulous towing operators was raised in a Federal Trade Commission proposed rulemaking last year, in which the FTC recommends requiring more billing transparency from tow truck operators.
In support of FTC’s proposal, the Federal Motor Carrier Safety...
The results of a yearlong investigation into China’s monopoly over ocean container production are being highlighted to lawmakers to illustrate the potential threat to the U.S. economy.
Federal Maritime Commissioner Carl Bentzel, who released a report on the investigation publicly on Wednesday, wants to spark a policy debate on the long-term implications of the country’s “complete reliance” on Chinese container manufacturing.
“Chinese container manufacturing clearly took steps together to suppress...
https://www.freightwaves.com/news/fmc-commissioner-red-flags-congress-on-chinas-container-monopoly
Two congressional oversight panels have opened an investigation of three major ocean carriers, alleging that their dramatic rate hikes charged to shippers may have fueled inflation.
Leaders of the Select Subcommittee on the Coronavirus Crisis and the Subcommittee on Economic and Consumer Policy — which operate under the House Committee on Oversight and Reform — sent letters on Wednesday to heads of Maersk, CMA CGM and Hapag-Lloyd requesting information about their container rate increases and...
https://www.freightwaves.com/news/house-panels-open-price-gouging-probe-of-major-ocean-carriers
U.S. exporters and logistics companies aren’t the only ones banging on the government’s door to take action against global container lines for alleged service failures and unfair pricing during the pandemic.
The clamor from global forwarder and shipper organizations about anticompetitive behavior got so loud that five competition authorities, including the U.S. Department of Justice, on Friday established a working group that will meet regularly to share intelligence and coordinate...
https://www.freightwaves.com/news/collusion-drumbeat-leads-to-multilateral-probe-of-shipping-lines
U.S. Transportation Secretary Pete Buttigieg visited the ports of Los Angeles and Long Beach on Tuesday to promote record-setting cargo volumes while vowing to address potential anticompetitive behavior in the container markets.
“There’s no question that when you have a scarcity of access to shipping, you’re going to see upward pressure on prices, and that’s going to be part of our challenge when it comes to inflation,” Buttigieg told a gathering of port officials and lawmakers at the Port of...
https://www.freightwaves.com/news/buttigieg-vows-to-fight-container-rate-inflation
The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.
There is a lot of talk about the recently soaring spot rates in trans-Pacific container trade. Year-over-year increases of 70% and higher are hard to ignore, especially in the middle of a pandemic – a time when many are working desperately to keep supply chains intact. Shipper associations may become even more concerned given the degree of consolidation among...
https://s29755.pcdn.co/news/commentary-when-is-a-carrier-price-gouging
Spot rates in the trans-Pacific ocean trade continue to reach epic new heights, leading to talk of price gouging, writes Freight Waves Senior Editor, Greg Miller in an article published on their website
Blank Sailing Strategy Paying Off?“Container lines have done well during the global pandemic, but are they profiteering from the crisis?” asked U.K.-based consultancy Drewry.
“Perversely, lines look set to make more money than they have in a long time,” Drewry continued. The practice of “blanking”
https://mfame.guru/blank-sailings-leading-to-price-gouging-rumors-as-freight-rates-soar/