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Shipping Giants Inflate Rates | Business and Finance News
Description
Ocean freight rates are skyrocketing over 400%—but cargo volumes from China to the U.S. are actually down 1%. The real culprit? The top ten shipping lines, who control 90% of global capacity and operate outside U.S. antitrust laws, colluding to slash sailings and inflate prices. Companies like Yang Ming are raking in record profits, blaming everything from early peak season to trade uncertainty—and even using weather disruptions as excuses to keep ships docked. With port delays rising and carriers intentionally limiting supply, businesses should brace for continued volatility in shipping costs and availability all year long.
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