Cargo Shipping Rates Hint at Good Christmas Season for U.S.
Bloomberg points out the shipping prices show that the Christmas season should be good for retailers in the United States but bad for those in Europe.
The shipping lanes of the Pacific and Indian Oceans show the diverging fortunes of U.S. and European consumers ahead of the busiest shopping season of the year.
A.P. Moeller-Maersk A/S (MAERSKB), the world's biggest container line, is among carriers raising rates on Asia-U.S. routes as three-month-high consumer confidence and job growth at the quickest pace in five months tempt retailers to stock up ahead of the holiday-shopping rush. By contrast, shipping lines are cutting capacity to Europe.
"Christmas will come to America, but probably not to Europe," Soeren Skou, chief executive officer of A.P. Moeller-Maersk's container-shipping arm, said in an interview.
Douglas A. McIntyre
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