Canada joining International Group to Investigate “Obscene Profit” of Shipping Carriers

Canada’s Competition Bureau is forming a working group with their counterparts in the United States, United Kingdom, Australia, and New Zealand, focused on investigating potential anti-competitive behaviour of global shipping carriers.

According to Inside Logistics, Canadian Freight Management Association (FMA) president John Corey stated that carriers have tripled rates on some routes, cancelled sailings, not honoured contract rates, cut service, all while making over $200 billion profit over the pandemic.

Canaan Group is part of the Canadian International Freight Forwarders Association (CIFFA) and actively monitoring the situation to see if there will be any relief for our customers, who are largely small and medium enterprises.

Sources:
1. Canada joins international group investigating freight competition, Inside Logistics, Feb 21, 2022. Accessed Mar 21, 2022.