Global Supply Chain Update
by Michelle Rock, International Business Development Advisor, AVP
mrock@arvest.com
Cell: (972) 896-9427 | SWIFT: ARVTUS44
As a follow up to our July and August newsletters, I want to provide a specific update regarding the global supply chain and its recent standings. To catch up on prior conversations, check out the Arkansas DEC newsletters here.
While port congestion was starting to clear up in May and June when shipping queues had fallen back to double digits, it appears things have taken a turn for the worse once again. V. Alexander & Co., Inc. recently released an update showing that congestion issues at U.S. terminals have returned in all three of our major port operations in the East, Gulf, and West Coast. Waiting times range from one to 17 day for vessels. They state the long waiting times are due to high import volume, berth congestion, labor shortages, and vessel bunching, with some U.S. ports at 90% capacity. Luckily, we’re doing a bit better than our neighbors to the north who are reporting upwards of 126% capacity at the Prince Rupert port in British Columbia, Canada. Some ports have extended trucking hours amid the mounting vessel buildup, but will that be enough? Stay tuned to this newsletter and sign up for our free webinar to learn more!
|