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Biden's container intervention resembles political nationalism, says analyst

Prospect of US measures against container carriers’ high rates may please shippers today, but they are likely to regret it soon, when the market turns around, states Bjørn Vang Jensen of Sea-Intelligence. Biden’s rhetoric is ”enveloped in the flag.”

Photo: SCOTT OLSON/AFP / GETTY IMAGES NORTH AMERICA

US President Joe Biden’s statement that he aims to take a close look at things including container lines’ exemption from key elements of competition regulations tastes too much of nationalist politics at the expense of carriers, says Bjørn Vang Jensen, vice president at analyst firm Sea-Intelligence.

”I don’t like the tone of it. There is much rhetoric about the evil foreign enterprises, which collaborate and push up prices,” states Jensen to ShippingWatch.

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