FedEx and UPS, two titans of the business, agreed this week to stop making new investments in international containers as a response to similar allegations that shipping costs in the area are used to stimulate consumer demand. This agreement has forced shippers back to the negotiation table. FedEx said that as part of a five-year strategic strategy to revamp its shipping network, it would stop making any additional investments in containers outside of the United States. These agreements between major airlines are seen as marking the conclusion of a turbulent time. In February, dozens of sizable foreign shippers filed a petition with the Surface Transportation Board requesting that it put an end to future, rejecting the claim made by forwarder Cogent Express that domestic shippers would suffer from a protracted slowdown in the freight markets.
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