Cosco, CMA CGM face antitrust review as rates surge, China-LA volume hits record

China 2904 Corp - Ports 858 Corp - Shipping 938 Mode - Containerized 1425 Mode - Seaborne 1761 Theme - Rates 219 U.S. 5209

China’s Ministry of Transport is investigating the price setting approach of six major container-lines in the wake of a surge in shipping rates. China-to-U.S. west coast rates have increased by 24.8% in the past 11 weeks since their COVID-19 related trough. Further rate rises are possible according to Flexport. While earlier rate increases may be due to container-lines cutting their services there has been a notable increase in demand recently. Seaborne imports to Los Angeles and Long Beach from China for example climbed by 10.2% year over year in July to reach a record number of shipmen...

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