The US has had little to say about international shipping in recent years, so it is worth taking note when US President Joe Biden fires a warning shot across the bows of the container business.

Especially given the European Union — which always has a lot to say — issued a near simultaneous warning about soaring boxship rates and uncompetitive behaviour while China expressed earlier concerns.

Biden signed an executive order on 9 July encouraging the Federal Maritime Commission (FMC) to “ensure vigorous enforcement against shippers charging American exporters exorbitant rates”.