As more shipping is diverted away from the Suez Canal, supply chains in the UK are being stretched as shipping capacity is reduced and container rates rise.
- UK distributors under pressure as Red Sea disruption increases shipping costs, disruption
- Shortages of capacity as vessels at sea for longer
- Container rates have doubled, shipping companies unwilling to guarantee space
- Demand spikes as supply chains build safety stocks
- High stock levels have mitigated impact of logistics disruption
- Logistics crisis has dampened optimism for 2024 recovery
- Consumer confidence hurt by cost of living crisis, political uncertainties
- Chemical Business Association working with government on UK Reach
- China’s economic problems impact chemical markets everywhere
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