U.S. Begins Inquiry Into Impact of Slower Ship Speeds
This article is for subscribers only.
The U.S. Federal Maritime Commission has started an inquiry into how slower container ship speeds are affecting freight rates and supply chains.
Ocean liners have been reducing their travel times over the past two years to save fuel and lower greenhouse-gas emissions, the agency said today in a Federal Register notice of its inquiry. The practice saves money for the liner companies and can lower freight rates, while shippers of high-value commodities or perishable foods may be hurt by more spoilage when shipping times increase.