Trans-Pacific shipping rates are rising, but not high or fast enough for ocean carriers, says Wei Jiafu, president and CEO of China Ocean Shipping Co. “Since June, we’ve raised rates several times, but still not enough,” he told The Journal of Commerce in Washington today before speaking at the National Press Club. … Wei believes a global recovery is under way, pointing to China’s higher-than-expected 8.9 percent growth in gross domestic product in the third quarter.
