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High Shipping Costs Are Here to Stay Says Bloomberg – gCaptain


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By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers.
The price for a container of goods from China to the U.S. West Coast and European ports has hovered near record highs for several months, and conditions are ripe for more increases even though spot rates usually soften this time of year. What’s more, new contracts being signed by some of the biggest U.S. importers indicate the spike won’t be a short-term blip.
Most large retailers and manufacturers sign annual deals with the ocean carriers to lock in their container freight rates, in private negotiations that typically take place this time each year. ....

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U.S. Retailers See Millions in Sales Delays Amid Shipping Logjam – gCaptain


By Kim Bhasin, Jordyn Holman and Henry Ren (Bloomberg)
Overwhelmed U.S. ports, elevated freight costs and accidents that sent goods plunging to the bottom of the ocean are causing headaches for U.S. retailers already reeling from the pandemic.
From appliance makers to shoe brands and fitness equipment manufacturers, corporations of all sizes are reporting logistics struggles, especially on trans-Pacific trade routes. Although they haven’t yet translated into widespread sticker shock for consumers, the ongoing shipping issues threaten to disrupt inventories if they persist much longer.
“I don’t think we’re meeting everybody’s expectations today and frankly, we’re unlikely to. I doubt if anybody else is either importing products from Asia,” Crocs Inc. Chief Executive Officer Andrew Rees said on an earnings call this week. “Getting it through Long Beach and other ports, getting shipped to customers is really challenging right now. And that’s not an ....

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Cuomo aide admitted concealing nursing home data — Indoor dining to reopen — Vaccinations of health care workers lag


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If you thought a court order earlier this month was the last blow to Gov. Andrew Cuomo over his administration’s stilted reporting on the Covid-19 deaths in nursing home, you’re not alone. ....

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