MAJOR CRISIS - SHIPPING CONTAINER LOST SHIPS ON FIRE - MAJOR SUPPLY STANDSTILL SOS

Hundreds of container ships stuck as global bottlenecks grow.

Ports remain the most visible sign of the crisis. The report today on the waiting game at operations from Los Angeles to Shanghai, with nearly 600 container ships around the world stuck while they wait to be processed thanks to increased demand for consumer products, pandemic-related disruption to schedules and a shortage of dock workers.

In the US, the problem is most visible at Los Angeles and Long Beach the entry point for about 40 per cent of all imported goods where containers stretch out far into the sea. The crisis has also called into question the value of just-in-time supply chains...

The timing for the US economy is disastrous as the country gears up for the long shopping season that traditionally begins after Thanksgiving in late November. One estimate says the crisis could add another $223bn to US retailers’ costs during the holiday season. [link to www.msn.com (secure)]



40 shipping containers have fallen into the ocean after ship hits rough water off B.C. coast


[link to www.zerohedge.com (secure)]

[link to globalnews.ca (secure)]