Cole’s experience illustrates a number of factors that contribute to the global market. First, the items were made incorrectly, which Cole suppliers blamed for the division of power in China as the country tried to eliminate coal power; then Cole affiliates in China were unable to find a cargo ship to complete the order. Cole believed that his two 40-foot vessel would be loaded on a ship near Shenzhen on November 13, but the shipment did not reach the sea until November 19. “Even after leaving the harbor, he was supposed to be 11. three, ”says Cole. He’s not sure the stuff will stay on top even then, and there’s no guarantee that the Australian side will be smooth, either. “It usually takes two days to pick up items from the port to the warehouse, but I’m not sure,” he says.
Failure to follow orders correctly is a problem with shipping, says Levinson, and it exacerbates the problem. He said: “There is no specific time frame for the large quantity of cargo passing through a cargo container. “That is why things have been scattered about to the four winds and things have disappeared.” This uncertainty has been exacerbated by the serious disruption of retail sales over the past year, since the recent closure of ports due to the spread of Covid – as happened in Ningbo, The third port in the world, August 2021—until the temporary closure of the Suez Canal, when 12 percent of all global trade passes, in March 2021. sought 20 of its major cities and territories to reduce energy consumption throughout the year to try to achieve environmental goals, which enable industries and industries to operate for one part of the day.
Next? The global decline in commodity sales has brought chaos – making global shipping more expensive than ever. “Money is worth a lot of money,” says Levinson. “He’s making a huge profit.” Although shipping costs have been relatively unstable for a long time, with the cost of shipping container shipping from Asia to Europe more than from Europe to Asia, prices have risen sharply. Sending one 40-foot container from Shanghai to Los Angeles in early August 2019, for example, costs $ 1,700. The following year, it rose to $ 3,000. By August 2021, it had cost $ 10,200, according to a report by analyst Drewry World Container Index. Cole had already paid $ 2,500 to ship one 20-foot container from China to Australia. It is now $ 5,500. He said: “I get a little worried when I see the money for my 40-meter container.” I will not receive bills until the container arrives at the port. “
At such high prices, many large businesses are avoiding the traditional shipping business and moving on their own, earning a lot of money to do so. Costco is he rented three container vessels which will operate to supply goods to the US and Canada from Asian factories, such as Walmart, Ikea, and Home Depot. “Things are going up,” Costco chief financial officer Richard Galanti told investors about announcing the latest corporate results. “Labor costs, commodity prices, shipping costs, port delays, demand for other categories of goods, supply of goods, from computer chips to oil and pharmaceuticals, and inflation” have all been affected. retailer business. , Galanti added. Those who have not rented their ships feel overwhelmed. Half of the lingerie sellers Victoria’s Secret’s they cling to the sea. The rest are broadcast – but this takes nine days and not two, as the competition for air travel also brings back the same.