Shippers worldwide 'furious' at 'chaotic' ocean freight market
Friday, February 19, 2021
Shippers worldwide are "furious" at the chaotic state of the ocean freight market and the lack of mechanisms to resolve it, according to the Global Shippersâ€™ Alliance (GSA), which represents the logistics interests of manufacturers, retailers and wholesalers. Sustained buoyant demand, tight vessel capacity and an acute lack of available empty containers in key export locations has led to major congestion at certain key ports, affecting freight flows and supply chains globally and triggering a surge in shipping rates. â€œProduction, marketing activities, and distributions are all disrupted and the economic costs are beyond measureâ€, said Chairman Denis Choumert,who is also Chairman of the European Shippersâ€™ Council (ESC). For his part, Godfried Smit, Secretary General of the ESC, noted: â€œMany major European ports are jammed, while container ships are waiting for a berth, inbound containers are sitting in the terminals to be cleared and shipping lines are refusing outbound bookings because they want to expedite return of the containers to the Far Eastâ€. Godfried went on, â€œoutbound freight rates have risen 5-6 times and exporters may still not get a bookingâ€.Click here to connect to the source of this storyClick here for more News and Views
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