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Maritime transport is through the roof: before the pandemic shipping a container cost 1,000 dollars, today it costs 10,000

The electronics industry is just one example, but we are clearly seeing the effects: new products are introduced, but It took us weeks to buy them. Why?

Well, partly because they are manufactured less due to the shortage of components, but also because the transport of goods is in one of the great collapses in its history. Hundreds of ships are blocked outside the ports, and the price for shipping a container has been multiplied by ten compared to pre-pandemic levels.

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The impact of the pandemic is enormous in all areas of the industry, but also in the maritime transport of goods: in August a single case of covid paralyzed one of the terminals from the great Chinese port of Ningbo, on the outskirts of Shanghai, for a whole fortnight.

In The Financial Times they reveal that there are currently 584 container ships that are simply stuck abroad from ports around the world: it is double the number at the beginning of the year according to data from Kuehne + Nagel, and analysts note that the problem has reached “unprecedented levels”.

In fact, delays in certain shipments act like a gigantic and terrible domino: those delays cause other transports to be delayed as well, creating a vicious cycle that affects the supply of goods and components around the world. And to that are added other problems of haste and shortcuts that cause more containers to be lost than ever.

There is also another key factor that adds to the problems: the cost of shipping goods has risen staggeringly – the average shipping price for a 12-meter container is now approaching $ 10,000. That price is triple what that shipment cost in early 2021, and it’s 10 times what it cost before the pandemic.

Analysts warn that the problems could worsen now that the Northern Hemisphere is cold, snow and winds that could cause, for example, port terminal closures. Problems will take time to resolve, and once again we will have to arm ourselves with patience.

Via | Financial times