There must be something badly wrong with a business when customers tell suppliers they should put their prices up.
Yet this has happened repeatedly in the world’s shipping industry as it struggles to cope with an imbalance between supply and demand that is creating uncertainty and disruption both for shipping lines and for the companies that depend on them to carry their goods across the world.
“People are asking carriers for price increases just to make sure their cargos are actually shipped,” says Patrik Berglund, co-founder and chief executive of Xeneta, a Norwegian company that tracks container shipping rates.
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