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Home European retailers face goods shortages as shipping costs soar
European retailers face goods shortages as shipping costs soar
Importers of consumer items from sports kit to toys cite ‘huge impact’ on business
World Economy News
31 Jan 2021 • 4 min read
The spiralling cost of shipping goods from Asia is causing a shortage of consumer goods in Europe for importers of everything from home furnishings, bicycles and sports kit to children’s toys and dried fruits.
A dearth of empty containers in China has quadrupled prices on sea trade routes to Europe in the space of eight weeks, with costs hitting record highs as shippers and freight forwarders compete to secure space on vessels.