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The tightening of South Korean containers makes exporters expensive winners for Reuters

The tightening of South Korean containers makes exporters expensive winners for Reuters By Cynthia Kim BUSAN (Reuters) – Unable to get a loophole in a Le Sang-hoon container ship, Busan is considering using fishing trawlers that it wants to fix in the South Korean port to increase orders to export car engine oil it sells to Russia. “China is the black hole in this shipping crisis, all carriers are headed there,” said Lee, owner of Dongkwang International Co. in Busan, which earns about $ 20 billion a year ($ 17.60 billion). “These fishing vessels out there may have an answer for us because we already have a month’s delay. That is, if we fix the shipping problems,” Lee said, pointing to the empty fishing trays visible from the Busan office.

South Korea s container squeeze throws exporters into costly gridlock

6 Min Read BUSAN (Reuters) -Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia. A truck driver stands next to his truck as he gets ready to transport a shipping container at Pusan Newport Terminal in Busan, South Korea, July 1, 2021. Picture taken on July 1, 2021. REUTERS/Kim Hong-Ji/Files “China is the black hole in this shipping crisis, all the carriers are headed there,” said Lee, owner of Dongkwang International Co. in Busan which makes about 20 billion won ($17.60 million) in annual revenue.

South Korea s container squeeze throws exporters into costly gridlock

South Korea s container squeeze throws exporters into costly gridlock
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