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Container Shipping Giant Freezes Spot Rates Amid Trade Chaos

  • France’s CMA CGM suspends rate increases through Feb. 1
  • Carrier says its prioritizing long-term client relationships
Views of Tianjin Port as China's Trade Unexpectedly Surges Despite Virus Outbreak
Photographer: Gilles Sabrie/Bloomberg

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The world’s third-largest container carrier said it’s capping spot rates for ocean freight for the next five months, yielding to pressure from some customers and regulators concerned that global trade disruptions have pushed the cost of shipping too high.