Beauty
43 posts
Oct 03, 2021
10:48 PM
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Mr Chaitowitz is not alone, many businesses around the world have faced similar logistical headaches lately. super slot
Lockdowns led to a massive drop in retail purchases, followed by a sharp rebound as countries started to open-up again.
At present, hundreds of container ships are queuing for access to overloaded ports, mostly in the US and China.
In addition, in Europe and the US, lorry driver shortages mean it is harder to move containers on to their destinations once on land. And port closures caused by Covid-19 outbreaks have further exacerbated the traffic jam.
It's become common to hear stories about containers left idling on quaysides for months on end. Plus, prices for containers are through the roof.
Sending one 40ft container from Asia to Europe costs $17,500 (£12,650), more than 10 times the price of a year ago, says George Griffiths, editor of global container markets at S&P Global Platts.
He adds that some shipping companies are now charging premium rates to guarantee delivery within a few weeks, for example, and that importers are also attempting to outbid one another, offering extra cash to snap up containers over their rivals.
"It's really starting to bite in the market," says Mr Griffiths.
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