Fewer cargo ships could spell trouble for U.S. retailers
February 28, 2023
U.S. retailers are enjoying lower rates to import goods from foreign markets that enter through the nation’s ports. Carriers like Maersk and MSC, however, are canceling voyages to drive prices back up. The Port of Los Angeles reported 17 canceled voyages in January, with more to come. “If [carriers] keep bumping containers, we could end up missing Christmas,” said Isaac Larian, CEO of MGA Entertainment.
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