Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
The rise in freight rates on the world’s busiest route was a result of a general rate increases announced by the global leader Maersk Line and other major container shipping companies earlier in January.
In the week to Friday, container freight rates rose 7.4 percent from Asia to ports in the Mediterranean, fell 1.2 percent to ports on the U.S. West Coast and were unchanged to ports on the U.S. East Coast.
Ships owned by Maersk Line, a unit in Danish oil and shipping group A.P. Moller-Maersk, carry around one fifth of all containers transported from Asia to Europe. (Reporting by Ole Mikkelsen; Editing by Simon Johnson)
(c) 2015 Thomson Reuters, All Rights Reserved
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