The auto industry, which has long relied on just-in-time manufacturing to reduce costs, is finding it has limited flexibility to deal with supply-chain disturbances wrought by the pandemic.
Ship congestion outside the busiest U.S. gateway for trade with Asia persisted over the past week as imports surged through March, usually one of the slower months of the year for container volumes.
Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers.
The Ever Given leaves in its wake several weeks or months of disruptions across a world economy where the pandemic revealed both the sturdy backbone of global trade and an Achilles’ heel.
China could import more cotton to replace fiber from Xinjiang that’s being rejected by some Western companies and threatens to hurt its booming textile export industry.
Ships started moving again through the Suez Canal on Monday after the giant container ship that lay stranded across the critical waterway for a week was finally tugged free.