Collapsing ocean shipping rates are not all good news for U.S. retailers, who paid as much as $20,000 to move a container of goods during the worst pandemic disruptions, as they now are bracing for delays due to plummeting demand.
are trying to prop up prices by cancelling voyages and that could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S. ocean shipping conference in Long Beach, California, this week.
The event, called TPM23, marks the unofficial kickoff of the container shipping contract negotiating season when carriers and their U.S. customers ranging from Walmart Inc Those closely watched, and often contentious, negotiations matter because the Asia-U.S. trade lane is the most lucrative for carriers, and those contracts set the tone for talks in other regions.
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