LOGISTICAL CHALLENGES CAUSED BY COVID-19 POSE MAJOR SUPPLY CHAIN PROBLEMS TO EUROPEAN AND USA CLOTHING RETAILERS
January 2nd, 2021
Unprecedently severe bottlenecks in merchandise trades between Asia and the rest of the world caused by Covid-19 economic disruption is continuing to frustrate apparel retailers in Europe and the US. High levels of demand, port congestion and shortages of containers have been pushing up costs, with shipping rates for the Shanghai-Rotterdam and Shanghai-Los Angeles routes on January 21 being up 296% and 153% year-on-year respectively, according to UK-based maritime consultancy Drewry.
Some shipping rates have risen more steeply. As 2020 drew to a close, ...
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