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'Chinese authorities say there needs to be a rates ceiling': Saadé

from Splash 247

Rodolphe Saadé, chairman of CMA CGM, the world's fourth largest containerline, has discussed the pressure liners are coming under from Beijing amid the red-hot freight rate environment that is causing supply chains to quiver. In an interview with the Financial Times, Saadé said that Chinese authorities are determined to try and keep a lid on rates, especially on the transpacific, where prices have soared in the last three months. Soaring demand on the tradelane has created acute container shortages that are being felt around the world. more

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