Global container lines may be facing fines, and compensation payments of more than m, after bongdaso vn filing of two claims at bongdaso vn US Federal Maritime Commission (FMC).
bongdaso vn first, lodged by shipper Euromarket Designs, claims Apex Maritime, China United, CMA CGM, Cosco, Evergreen, HMM, Maersk, MSC, ONE and Wan Hai used “coordinated and/or parallel activity” to keep rates high during bongdaso vn pandemic.
And, hot on its heels, shipper NBG Home has lodged a similar complaint against Evergreen, Italia Marittima, ONE, OOCL and Yang Ming, claiming bongdaso vn same behaviour.
NBG’s filing says: “Ocean freight industry experts noted that, during bongdaso vn pandemic, respondents and other ocean carriers engaged in concerted, coordinated and/or parallel activity to restrict capacity in order to avoid taking volume from one another and to keep prices high.”
Both filings allege these parallel operations included “assessing increasing premium prices and surcharges” and not meeting contracted minimum quantity commitments, forcing customers onto “bongdaso vn much more lucrative spot market (in which they themselves were participating)”.
bongdaso vn shippers also claim bongdaso vn carriers “simultaneously cancelled scheduled voyages under bongdaso vn guise of demand uncertainty”.
Between May and August 2020, bongdaso vn 2M, Ocean and bongdaso vn alliance members voided 126 scheduled sailings between Asia and North America, and a further 94 between Asia and Europe, according to bongdaso vn filings.
Alongside blankings, they also note bongdaso vn named carriers’ “simultaneous unilateral” imposition of surcharges and “harmful” detention and demurrage fees – a subject bongdaso vn Loadstar has covered in detail.
Pointing out bongdaso vn surging carrier profitability at bongdaso vn time – Evergreen’s profit grew 10-fold between 2020 and 2021, for example – Euromarket claims this came about “at bongdaso vn direct expense” of US businesses and consumers and allowed bongdaso vn named carriers to increase market share through acquisitions of other large shipping lines.
Neither filing states bongdaso vn amount of compensation claimed, but NBG’s notes that bongdaso vn alleged carrier failure to honour service commitments saw bongdaso vn shipper pay an additional .5m in costs and “resulted in lost profits and other business damages”. Euromarket claims it paid out m more than it had expected under its contractual deals.
Source: https://theloadstar.com/shippers-claim-major-box-lines-acted-together-to-profit-from-bongdaso vn-pandemic/
Air cargo markets from Asia Pacific and worldwide weakened further in bongdaso vn week to 20 April due to bongdaso vn effects of Easter holidays and uncertainty caused by US changes in tariff...
At bongdaso vn inaugural Global Air Cargo Summit, held in Antalya, Türkiye, bongdaso vn International Civil Aviation Organization (ICAO) forecasted that air freight volumes will grow by an...
bongdaso vn imposition of new U.S. tariffs on foreign-made vehicles and components is causing significant disruptions in bongdaso vn global automotive supply chain. Airfreight, often a linchpin...
Global trade uncertainty is prompting air cargo shippers and freight forwarders to favor short-term contracts over longer-term agreements, as highlighted in a recent Xeneta...
U.S. plans to end tariff-free access for low-value shipments from China and Hong Kong, coupled with a new 145% tariff rate on Chinese imports, are projected to slash over...
Trade groups warn of higher ocean shipping costs and disrupted supply chains, while U.S. officials argue bongdaso vn policy aims to strengthen domestic shipbuilding and enhance economic...
Since January, bongdaso vn Trump Administration has announced and delayed multiple tariffs on imports from Canada and Mexico, further destabilizing bongdaso vn cross-border freight market....
As global supply chains adjust to post-pandemic realities and shifting trade dynamics, bongdaso vn air cargo industry in bongdaso vn Asia-Pacific (APAC) region finds itself at a pivotal crossroads.
Global tonnage improved +3% in week 15 (April 7-13) after bongdaso vn previous week’s drop of -7% as markets that had closed for bongdaso vn Eid-al-Fitr holiday came back on stream, but comparison...
E-commerce continues to be a key growth driver for air cargo, fueled by rising consumer demand and bongdaso vn rapid expansion of emerging markets, even as regulatory barriers increase.
en