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President Biden targets shipping lines for uncompetitive ways


President Joe Biden’s executive order targeting shipping lines in a crackdown on uncompetitive industries is seen as welcome news to American companies paying record-high rates for ocean freight, a market that a growing number of importers complain is dominated by just a few big players. The order encourages the Federal Maritime Commission to ensure vigorous enforcement of rules so exporters aren’t hit with exorbitant charges. FMC Chairman Mr Daniel Maffei said they have increased scrutiny of the ocean carrier alliances to identify evidence of anti-competitive behaviour regarding rates and capacity, and they will continue to do so as the Covid-19 and import surge crisis continues, as per a report. 

 

Source: Exim News Service: Washington, July 21

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