News Snapshot:
Recent moves made by international shipping companies’ to freeze cargo rates will do little to ease strained shipping capacity and improve logistics efficiency, Chinese traders said, as a wider range of Chinese products – from gifts to Christmas cards, and from furniture to mechanical devices – heading to the US have been delayed. There’s no sign of a turning point until next year, they said. Such disruptions have caused losses for Chinese traders and taken a heavy toll on US importers, whose goods are stuck at US ports as they face rising default rates. Since more than 80 percent of...
