Vessel Congestion Update:
The Los Angeles-Long Beach Ports (LA-LB) continue to handle record numbers of importations, mostly arriving from China. Shippers and importers continue to see increased costs as congestion delays continue at many ports along with commodity increased pricing to purchase goods.
Some of the other challenges attributed and not limited to containers and related equipment delays in the supply chain include higher carrier shipping fees, tight ocean bookings, and equipment shortages which are anticipated to continue into the summer. Economists predict that U.S. inflation may increase by 2% as well with China currently experiencing some inflation which increases purchasing costs.
Port administrators continue to be hopeful to realize improved dock turn-around times, which will allow ships to be back on schedule. Vessels in anchorage continue to wait an average of 6 ½ days before proceeding to a terminal. The anticipated time for the “peak season” to begin is August 2021.
Please contact your Western Overseas representative if you have any questions.