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“It’s About To Get Much Worse”: Supply Chains Implode As “Price Doesn’t Even Matter Anymore”

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The number of container ships stuck at anchor off Los Angeles and Long Beach is down to around 20 per day, from 30 a few months ago. Does this mean the capacity crunch in the trans-Pacific market is finally easing? Absolutely not, warned Nerijus Poskus, vice president of global ocean at freight forwarder Flexport. “It’s not getting better. It’s getting worse,” he told American Shipper in an interview on Monday.

“What I’m seeing is unprecedented. We are seeing a tsunami of freight,” he reported.-

Learn More: https://www.zerohedge.com/markets/its-about-get-much-worse-supply-chains-implode-price-doesnt-even-matter-anymore

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