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TRAFFIC JAM: Shipping Clogged at Major Ports

August 25, 2021 By E.J. Smith

By oneinchpunch @ Shutterstock.com

Shipping is clogged at many major American ports as corporations buy ahead to beat inflation and high holiday demand. Paul Berger reports in The Wall Street Journal:

Container ships are stacking up again off Southern California’s jammed ports, as a flood of imports and logjams in domestic logistics networks hit operations at the biggest U.S. gateway for seaborne trade.

Thirty-seven container ships were anchored off the adjacent ports of Los Angeles and Long Beach in recent days, according to the Marine Exchange of Southern California, the highest number since February, when 40 ships waited there.

Aboard are hundreds of thousands of boxes stuffed with goods bound for manufacturers and retailers as U.S. businesses hustle to restock inventories and prepare for the holiday shopping season. Just a couple of months ago, the number of container ships at anchor in the two ports, which together handle more than a third of all U.S. seaborne imports, had dwindled to nine. In normal times, the number is one, or none.

Leaders of the two ports say the armada of cargo ships is due to surging volumes and unpredictability in global supply chains caused by the Covid-19 pandemic, and exacerbated by shippers pulling holiday-season imports forward to avoid delays later.

American importers are bringing in cargo earlier “knowing that it probably will take longer to get it into their systems,” said Port of Los Angeles Executive Director Gene Seroka.

The West Coast congestion is one of a number of global bottlenecks as ports juggle strong consumer demand and shortages of workers and equipment caused by pandemic-related health and safety measures. Twice this year dozens of container ships had to wait at anchor in major Chinese ports because of slowdowns in operations after coronavirus outbreaks.

Some shippers have sought alternatives to ocean carriers.

“These challenges have been leading [to] significant delays and additional logistics costs, particularly as we’ve been making more use of airfreight,” Adidas AG Chief Executive Kasper Rorsted said on a recent earnings call.

Action Line: You should also consider purchasing ahead what you can in the face of inflation and possible supply disruptions as the world becomes a riskier place. Keep your finger on the pulse of risk in America by clicking here to sign up for my free RAGE Gauge alert.

Originally posted on Your Survival Guy. 

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com

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