The Daily The Great Supply Chain Disruption
Oct 15, 2021
Peter Goodman, the Global Economics Correspondent for The New York Times, dives deep into the ongoing supply chain crisis gripping businesses and consumers alike. He shares firsthand insights from the Port of Savannah, revealing the staggering backlog and logistical nightmares. Goodman discusses how the pandemic exposed vulnerabilities in global supply chains and why these issues may linger. He also highlights the shift towards e-commerce and the challenges it brings for all businesses, stressing the need for a more resilient shipping infrastructure.
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Overwhelmed Port
- Peter Goodman visited the Port of Savannah, the third largest container port in the U.S., to investigate supply chain disruptions.
- He witnessed a yard overflowing with 80,000 shipping containers, 50% more than usual, and ships waiting at anchor for days.
Supply Chain Disruption
- The pandemic initially caused a decrease in shipping capacity, as businesses anticipated reduced demand.
- This was followed by a surge in demand for goods, leading to container shortages and bottlenecks.
Container Shortage
- Shipping container shortages are caused by disruptions in global trade flows.
- PPE shipments to regions with less return cargo created container imbalances, impacting major ports.