Freight-cost pain intensifies as Covid scare rocks ocean shipping

SOARING freight rates and delivery delays have sparked a global backlash by companies frustrated about the destructive mix of deteriorating service and higher ocean shipping costs, reports Bloomberg.

Trade associations in China have raised antitrust concerns with the government, while similar pressure is simmering in Brussels, where the European Shippers’ Council petitioned the European Commission to address “outrageous price hikes” by cargo carriers. In Washington, the biggest lobbying group for retailers wants authorities to scrutinise the playing field.