US Government Taking Aim At Ocean Carriers?
The US government has seemingly taken aim at ocean carriers in an executive order signed by President Joe Biden on Friday (9th July).
The executive order encourages the FMC (US Federal Maritime Commision) to apply vigorous enforcement against carriers charging American businesses exorbitant charges.
The administration is understood to believe that the relatively small number of players in container shipping has contributed towards them charging unreasonable fees.
The order forms part of a wider sweeping crackdown on anti competitive practices, with the aim of introducing more competition throughout the economy.
How effective the FMC can or will be, in addressing the massive spike in Transpacific ocean rates during the past 18 months, remains to be seen.
We will be following this story closely.
Atlantic Pacific continue to work diligently to mitigate supply chain disruption during these extremely difficult times. Should you require further information on the above, then please do not hesitate to contact us.
