Here’s some news that Ebenezer Scrooge would be happy to hear, but that’s about it.
The world’s shipping crisis is actually getting worse, and it’s going to affect a lot of people around the holidays.
It’s a logistical nightmare for people who work in the shipping industry, as the network of ports, container vessels and trucking companies relied on to transport goods around the world are a tangled mess.
That means there are current shortages for consumer products that consumers are starting to feel, and companies that ship goods are having to pay a whole lot more.
As for the Christmas crunch that is definitely coming, shoppers are going to be seeing a double whammy of much higher prices and fewer choices.
According to a CNN report, some companies like Crocs, Adidas and Hasbro are already saying that they expect big time disruptions near the end of the year.
Here’s a quote in that CNN report from Bob Biesterfeld, the CEO of C.H. Robinson, which is a huge global logistics company.
“The pressures on global supply chains have not eased, and we do not expect them to any time soon.”
A terminal at a port near Shanghai has been shut for over two weeks, because one dock worker tested positive for COVID. That forced shipping lines who use that port to adjust schedules and it will cause delays for months.
Because of this shipping crunch, prices to move goods and cargo are going to skyrocket.
The other huge issue is the shortage of containers. The cost of a 40-foot container used for major East-West routes went up to $9,613 in August. That’s only 360% higher than a year ago.
Bottom line: when you’re putting your X-mas shopping list together in the next few months, have Plan B and Plan C items on their as well.
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