Ship Rates Spiking 467% Marks Upended Trade Across Commodities
Rates to ship commodities from energy to bulk ores across the world’s oceans are heading for a rare year-end surge as conflicts, sanctions, and swelling output upend global supply lines.

Jacob Gronholt-Pedersen (Reuters) Danish shipping giant A.P. Moller-Maersk expects container shipments to be back to normal early next week, it said on Thursday, as the impact of last week’s cyber attack extends into its third week.

“Where we are pleased with the progress we have made to be able to serve customers well on exports, we are very aware that the import experience has not yet been fully brought up to the level it should be,” Maersk said in a statement.
“We have a tight and ambitious plan that would lead us to be fully up to as close to normal business on serving imports by early next week,” it said.
It also said customers would still experience a slower response than normal as it catches up with a continued backlog of orders, while customers’ ability to track shipments handled by Maersk was still unavailable.
(Reporting by Jacob Gronholt-Pedersen; editing by Susan Thomas)
© 2017 Thomson Reuters. All rights reserved.
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