The Federal Maritime Commission (FMC) has concluded its investigation into the pandemic’s impact on the US ocean supply chain, finding that sky-high spot rates were the result of supply and demand rather than illegal market practices.
After two years of research, Commissioner Rebecca F. Dye’s Final Report for Fact Finding 29 noted that the FMC lacks regulatory tools to deal with the numerous charges imposed on shippers by carriers and terminals.
During the process, importers and exporters highlighted two recurring pandemic-related concerns: the high cost of shipping cargo, and excessive demurrage and detention charges.
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