Business & Investment

What do you expect from the impact of congestion and capacity on your business?

  • Port congestion and lack of capacity are impacting business
  • Supply chains and consumers are heavily impacted
  • Watch industry experts uncover these implications and what to expect

Well known as “Severe Acute Respiratory Syndrome Coronavirus 2” (SARS-CoV-2) COVID-19 (New Coronavirus Infection) Declared as a pandemic on the 11thth Of March 2020.

Like all other industries in the world Transportation, freight, maritime, logistics, supply chain Industry was also affected, causing great turmoil in world trade.

Since the closure of China’s factories, industries and ports in 2020, pandemics and many of their variants (alpha, beta, delta, gamma, lambda) have raged, affecting every country in the world and the world. Is causing confusion.

On the transport side, the impact of the pandemic not only affected both operations and supply, but also increased the demand for freight transport to a level that neither shipping companies nor ports could meet.

With many Chinese ports closed in early 2020, industry reports that imports fell by about 5.2%, a decline that lasted for two years.nd In the quarter of 2020, the pandemic spread to other countries around the world, resulting in the closure of its ports.

As the industry recovered around 3 yearsrd In the 2020 quarter, freight rates began to rise sharply due to a surge in demand for consumer goods, first a serious shortage of empty containers, and then a serious shortage of onboard space from Asia to the Pacific and Transatlantic. There was a new problem telling us.

Demand followed well to 1st And 2nd In the quarter of 2021, shipping companies raised freight rates to astronomical levels and managed space and equipment crunches. Equipment and space were sent to the highest bidders, an increase of approximately 342% from January 2020.

This situation of Port congestion The shortage was exacerbated EvergivenA 399.94m long 24,000 TEU capacity vessel operated by Evergreen Marine Corp was stranded across the 225m Suez Canal diagonally.

Ships were stranded across the canal for 6 days before being released, during which time more than 400 ships were stranded on both sides of the canal, and more costly more than about 11 days, instead sailing the Cape of Good Hope. did. Waiting in line in Suez.

Then followed by new cases of COVID-19. Yantian harbor, One of the top 10 ports in the world, and due to the closure of the port, many vessels were skipping the salt pans or waiting in line to berth.

Due to this closure, the impact on Shioda Port affected several neighboring ports in Shekou, Nansha and Hong Kong.

In the midst of this congestion and lack of capacity, fares continue to rise unabated.

Webinar on Port Congestion and Capacity-Shipping and Freight Resources

But what does this all mean to the general public .. ??

In the webinar Rachel Premac, Business Insider Senior Investigations Reporter, Michael J. fox, Senior FMC Advisor (retd), and Adam compine, Project44’s Global Growth SVP, how rising cargo prices are causing domino effects and appearing throughout the supply chain through port congestion, drought stagnation, inventory declines, inflation and extended lead times. Are discussing.

They refer to the insights gained from market research of more than 200 supply chain experts and the possible times when a freight market cool-down may occur and the circumstances that lead to it. Discuss through the line.

Registration See below for this fascinating discussion that can have a huge impact on you as a consumer.

Register for Webinar-Shipping and Freight Resources

post What do you expect from the impact of congestion and capacity on your business? First appeared Shipping and freight resources..

What do you expect from the impact of congestion and capacity on your business? What do you expect from the impact of congestion and capacity on your business?

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