The Asian Shippers Council has a called on the Chinese government to act against sharp increases in container freight rates in recent weeks, despite the glut of overcapacity in the market.

John Lu, chairman of the ASC, said shipping lines were acting as a
cartel imposing large hikes in freight rates from Chinese ports with
additional surcharges levied. “Unless the shippers pay the extra amount
their cargo gets shut out,” he told Seatrade Asia Online. Box rates
from the main port of Shanghai are reported to have hit over $2,000 per
teu to Europe and $2,700 per feu to the US in recent weeks, despite the
fact over 11% of the world boxship fleet is laid up. “The oversupply
situation does not seem to have any effect, which is totally abnormal,”
Mr Lu said. He called on the Chinese government to look after the
interest of shippers with the country’s millions exporters being hit by
the actions of the shipping lines.

Source: SeaTradeAsia-Online

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