The fresh capacity carriers rushed into the US’ busiest trade lane in April and May is no longer needed, sending rates on a downward spiral and forcing carriers to shelve proposed price hikes.
The complaint from Dollar General alleges the carrier sold more of its capacity in the high-flying spot market of 2021, leaving shippers under fixed-price contracts in the lurch.
The deployment of 24,000-TEU ships on its Africa Express service allows the carrier to better leverage billions of dollars invested in West Africa in recent years, reducing exposure to congested North European ports.