The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of COVID-19 drives freight prices ever higher.
The snarls that finally toppled one of the world’s best-maintained supply chains have sparked deeper questions about whether the auto industry’s strategies to prioritize efficiency and maintain minimal inventory will endure in the post-pandemic world.
Somewhere in the world’s busiest port of Shanghai, a container of fertilizer sits among tens of thousands of boxes, waiting for a ride to the U.S. It’s been on the dock for months, trapped by typhoons and Covid outbreaks that have worsened major congestion in the global supply-chain network.
The number of ships waiting to enter the biggest U.S. gateway for trade with Asia reached the highest since the pandemic began, exacerbating delays for companies trying to replenish inventories during one of the busiest times of the year for seaborne freight.
A supply chain crunch that was meant to be temporary now looks like it will last well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.
The partial closure of the world’s third-busiest container port is worsening congestion at other major Chinese ports, as ships divert away from Ningbo amid uncertainty over how long virus control measures in the city will last.
The latest news, analysis, services and systems regarding global logistics and freight and their impact on global supply chains. Today’s companies are transporting and delivering perishables and manufactured goods faster and farther around the world than ever before through global logistics solutions. New technologies that provide information during global shipments are transforming the way companies do business - and allowing them to stay ahead of the competition in their industries. As transportation and distribution services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using global logistics solutions to power their supply chains.
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