Freight Update

Hey guys, here’s an update on the shipping delays, container shortages, and rate increases industry-wide:

Federal regulators are investigating massive cargo shipping delays! In the picture below you can see multiple cargo ships carrying hundreds of thousands of containers just sitting on the water for miles!

Because the ships are stuck on the water, many sitting in empty ports on average 45 days, they have almost no shipping containers in China! Everyone is scrambling for containers, and the freight cost has skyrocketed causing the entire fireworks industry to raise their prices. Thousands of workers have been stuck on these ships for as long as 18 months.

Workers already on land refuse to board available ships causing a shortage in the workforce also driving up the price of freight. We’ll keep you in the loop on the status of the ships as often as possible.

Resources:

https://theloadstar.com/container-shortages-the-biggest..

https://www.hindustantimes.com/…/story…

https://theconversation.com/stranded-at-sea-the…

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