Container shipping costs plunged in the last year as inflation slowed consumer spending. The widespread bottlenecks at ports — at one point last year more than 100 ships were waiting to dock at the Los Angeles port — have also largely dissipated, the Financial Times reported.
On the indirect consequences of war, such as economic ones with rising inflation: in the UK the first strike in 30 yearsof the workers of the port of Suffolk [Felixstowe: Dock workers strike for first time in 30 years – BBC]
The oversupply of containers is contributing to second-hand container market prices plummeting, according to a new analysis from Container xChange. [6 Million Extra Containers Are Flooding the Global Supply Chain – SJ]
"Asia is losing weight in the role of the world's factory; production and retail must be recalibrated. The Mediterranean will be the dock of long-haul maritime trade," writes the Catholic-inspired newspaper Avvenire. The transport crisis, with the considerable increase in costs, pushes to redraw the maps of world trade", writes Reuters.
While some of the leading footwear manufacturers are optimistic that supply chain pressures will ease shortly, at least one analyst is against the grain and sounding the alarm [Top Analyst Downgrades Nike and Foot Locker, Says There’s a ‘Mistaken Belief’ Supply Chain Issues Have Improved – FN]
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