The $1 trillion container shipping industry is in a slowdown. Literally.Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking longer routes around Africa, avoiding Suez canal passage fees, according to the companies and ship-tracking specialists.
A stranded container ship blocking the Suez Canal threatens to make it even more difficult for European and U.S. retailers to keep products in stock during the coronavirus pandemic.The Suez Canal saga that began on Tuesday and could go on for weeks, is just the latest crisis to strike the global supply chain that was upended when coronavirus shutdowns spurred house-bound consumers to upgrade
Britain’s retailers and food manufacturers have called on lawmakers to urgently investigate ongoing disruption at UK ports, warning that delays were hurting their plans to build stocks ahead of Christmas and the December 31 end of the Brexit transition period.The British Retail Consortium (BRC) and the Food and Drink Federation (FDF) said on Thursday they had written to Lilian Greenwood