The Economic Ninja
@economicninja·587K subscribers·3.6K videos
The supply chain is about to get wrecked and what you need to do
Posted
April 28, 2021
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9:53Now PlayingBy Greg Miller, of FreightWaves,
The number of container ships stuck at anchor off Los Angeles and Long Beach is down to around 20 per day, from 30 a few months ago. Does this mean the capacity crunch in the trans-Pacific market is finally easing? Absolutely not, warned Nerijus Poskus, vice president of global ocean at freight forwarder Flexport. “It’s not getting better. It’s getting worse,” he told American Shipper in an interview on Monday.
“What I’m seeing is unprecedented. We are seeing a tsunami of freight,” he reported.
“For the month of May, everything on the trans-Pacific is basically sold out. We had one client who needed something loaded in May that was extremely urgent and who was ready to pay $15,000 per container. I couldn’t get it loaded — and we are a growing company that ships a lot of TEUs [twenty-foot equivalent units]. Price doesn’t always even matter anymore."
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DISCLAIMER: EVENTHOUGH I TALK ABOUT CURRENCIES, CRYPTOCURRENCIES, TOKENS, PRECIOUS METALS, AND OTHER "MARKETS". I WANT TO STATE THAT I AM NOT A FINANCIAL ADVISER. THESE VIDEOS ARE BASED UPON MY OPINION ONLY. YOU ARE RESPONSIBLE FOR YOUR OWN TRADING AND INVESTMENT ACTIVITIES
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