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Synopsis
In the U.S., the volume of imported goods accounts for about 12% of gross domestic product and most arrive by sea.
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At this stage, though, many economists remain sanguine on the inflation threat and don’t expect shipping costs to materially dent shopping baskets in the U.S. and Europe.
An ongoing surge in the cost of shipping goods around the world is prompting manufacturers and their customers to scramble for cheaper solutions.
Exporters, importers and their agents are considering buying their own shipping containers and chartering vessels to avoid the sky-high costs and delays of existing services. Most of the 25 million containers in global use are owned or leased by about a dozen ocean carriers including Copenhagen-based A.P. Moller-Maersk A/S and China’s Cosco Shipping Holdings Co.
(Bloomberg) Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic. An ongoing surge in the cost of shipping goods around the world is prompting manufacturers and their customers to scramble for cheaper solutions. Exporters, importers and their agents are considering buying their own shipping containers and chartering.
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