The pandemic has brought the biggest disruption since the start of container shipping 65 years ago. And the shipping crisis is getting worse. About 350 container ships are stuck outside ports around the world in August, more than double the number from earlier in the year. It normally takes 14 days to sail from Shanghai to Los Angeles, but it takes 33 days nowadays. We suggest planing ahead for extra long ship times.
The 2021 holiday shopping season could be marred by out-of-stock goods as shipping delays. Companies such as Adidas, Crocs and Hasbro are already warning of disruptions. An uninterrupted supply chain is fundamental to your market success.
According to Moody's Investor Service, the current historically high freight rates will remain at record levels for the rest of this year and into 2022.