Shipping rates soared during and immediately after the pandemic, as supply chains snarled and demand surged. Industry profits topped $400 billion from 2020 to 2023, which is believed to be more than the industry had previously made in total since containerization started in 1957, according to analyst John McCown. “Since Covid, they’re making billions and billions of dollars,” ILA President Harold Daggett told CNN. “But they don’t want to share it. They’d rather see a fully automated terminal right here on the East Coast so they can make more money.”
This stat is so jarring to me that I thought I was misreading it at first: www.cnn.com/business/liv...