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High ocean-shipping costs due to 'unprecedented consumer demand,' not lack of competition, US Federal Maritime Commission says

( June 1, 2022, 19:42 GMT | Official Statement) -- MLex Summary: High ocean freight rates in recent years can be ascribed to unprecedented consumer demand and port congestion, and the US Federal Maritime Commission has done its job in enforcing its competition authority, a two-year investigation by FMC Commissioner Rebecca F. Dye concluded. Markets are "competitive," the commissioner said in a press statement. The report includes 12 recommendations for improving ocean transportation supply chains, including an FMC outreach campaign to provide more information about the agency's competition enforcement.FMC statement follows. Report attached below....

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