Pandemic demand overwhelmed ocean capacity, drove rates higher: FMC

After a two-year investigation, the Federal Maritime Commission has determined that demand surpassing available vessel capacity is the driving force behind the market’s record freight rates.

Commissioner Rebecca Dye made 12 recommendations, including rulemaking to provide clarity and coherence on acceptable practices tied to empty container returns and earliest return dates. Photo credit: Shutterstock.com.

After a two-year investigation, the Federal Maritime Commission has determined that demand surpassing available vessel capacity is the driving force behind the market’s record freight rates.