LONG BEACH, Calif.—Collapsing ocean shipping rates would seem to be good news for U.S. retailers, but they are now bracing for delays as some carriers try to prop up prices by cancelling voyages.
Retailers had paid as much as $20,000 to move a container of goods during the worst pandemic disruptions.
Carriers like MSC and Maersk are trying to boost prices by cancelling voyages, which could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S. ocean shipping conference in Long Beach, California, this week….