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September 9, 2021
Shipping bottlenecks set to prolong supply chain turmoil
Tenfold jump in costs since start of pandemic squeezes importers and exporters The closure of a terminal at the world’s third-busiest container port is only the latest sign that turmoil in ocean shipping could run into next year, posing a threat to global economic growth as chronic delays and soaring transport costs may leave demand unmet and push up consumer prices. A coronavirus outbreak led to a partial shutdown at Ningbo-Zhoushan port last month and the resulting suspension of inbound and outbound container ships reduced the port’s capacity ...
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