With A Record 79 Container Ships Waiting Off The SoCal Coast, A Scary Supply-Chain Solution Emerges
Zero Hedge, 23 October, 2021 As we discussed yesterday, when looking at the recent dip in sky high container shipping rates, there was some fleeting hope that Southern California port congestion had turned the corner. The number of container ships waiting offshore dipped to the low 60s and high 50s from a record high of 73 on Sept. 19, trans-Pacific spot rates plateaued, the Biden administration unveiled aspirations for 24/7 port ops, and electricity shortages curbed Chinese factory output. Alas, it…
