Posted on 08/13/2021 8:56:33 PM PDT by lasereye
A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last year’s shipping nightmares.
The Port of Los Angeles, which saw its volumes dip because of a June Covid outbreak at the Yantian port in China, is bracing for another potential decline because of the latest shutdown at the Ningbo-Zhoushan port in China, a spokesman said. Anton Posner, chief executive officer of supply-chain management company Mercury Resources, said that many companies chartering ships are already adding Covid contract clauses as insurance so they won’t have to pay for stranded ships.
It seemed as if things were just starting to calm down, “and we’re now into delta delays,” Emmanouil Xidias, partner at Ifchor North America LLC, said in a phone interview. “You’re going to have a secondary hit.”
The shutdown at Ningbo-Zhoushan is raising fears that ports around the world will soon face the same kind of outbreaks and Covid restrictions that slowed the flows of everything from perishable food to electronics last year as the pandemic took hold. Infections are threatening to spread at docks just as the world’s shipping system is already struggling to handle unprecedented demand with economies reopening and manufacturing picking up.
(Excerpt) Read more at finance.yahoo.com ...
BINGO!!
kabar :" The benchmark cost of shipping a container from Shanghai to Los Angeles has tripled over the past year.
The Baltic Dry Index of bulk shipping prices has risen more than 10% since mid July."
“A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant
will lead to a repeat of last year’s shipping nightmares. “
It seemed as if things were just starting to calm down, “and we’re now into delta delays,”
Now, “You’re going to have a secondary hit.”
“ The shutdown at (port) Ningbo-Zhoushan is raising fears that ports around the world will soon face the same kind of outbreaks and Covid restrictions
that slowed the flows of everything from perishable food to electronics last year as the pandemic took hold.
Infections are threatening to spread at docks just as the world’s shipping system is already struggling
to handle unprecedented demand with economies reopening and manufacturing picking up."
Very true! And often these stores are no longer listing the country of origin.
With the direction all this is going, hubby and I have started purchasing things to finish projects and repairs around the house even though we don’t have time to do them yet... we are replacing a dishwasher today that is near the end, but not quite. We could limp it along but decided to replace it now. Same with our roof.
EcoWarfare? Look how dependent this country is on China goods :-(
I thought I read, somewhere, that it was ONE infection.
Probably more, by now, anyway.
metmom :" And COVID is just an excuse that works considering how terrorized the left has made everyone over a treatable cold virus."
Agreed !
The loss of civil liberties within an 8 month time period during a media hyped pandemic of a probable bio-weapon
which has a 98.5% survivability for all persons, unless you live in New Jersey or New York State.
Figure that one out ! 98.5% which includes the elderly.
I hear ya.
How many USA companies are making electronics, chips, etc., though?
Trump wanted to bring it all back.
Now look at the PREDICTED lurch we are in.
Buy pre-90s washers and pre-60s cars :-)
Even some furnishings are on back order....can’t get foam or fabric :-(
Excellent question. I had the same understanding.
BTTT!
Yeah, I’m close to needing tires on the primary vehicle. Methinks I should go ahead and do it, even though I might be able to get a few more thousand out of these.
Please make it so.
How does not buying cheap Chinese imports cripple OUR economy? It's not like we have factories the produce these things. If we did then there would be a problem for our workers.
IT'S A PROBLEM FOR THEIR (CHINESE) WORKFORCE. We already gutted our manufacturing workforce like a fish decades ago.
This nothing but economic warfare. I wonder how much of all the COVID scam has gone according tho China’s plan.
The problem is that our companies are dependent upon China for many products. What would Walmart look like if Chinese made goods were taken off the shelves? We have become dependent upon China for prescription drugs, PPE, etc. China is using mercantilism against us.
Peter Navarro described the seven deadly sins re China.
1. Hacking. It’s how China steals private and government secrets;
2. IP theft: China corporate espionage has sent things like nuclear reactor designs and computer codes to the competition back home;
3. Joint venture tech transfers: This is where China lures foreign companies for the promise of greater market access, but with the caveat that it has to share its know-how with the local partner, a partner that can then create a separate company to put yours out of business…or steal your formulas.
4. Product dumping: This is where China makes a widget for $10 and sells it to you for $5. It’s why the general argument against tariffs doesn’t work in China’s case because China is not a traditional market economy. They’re more concerned with dominating a market, and local job creation;
5. State owned enterprise subsidies;
6. Currency manipulation: although our Treasury Department says China is not manipulating its currency and lastly,
7. Fentanyl: the synthetic opioid that kills thousands of Americans each year.
The "free traders" have moved manufacturing and good paying jobs abroad. They have eviscerated the American middle class. And there are national security issues involved by becoming too dependent upon China.
Yes, as China's biggest export market, we do have some leverage over them in the long term. However, China can manipulate supply chains to cause us problems in the short term that can harm our economy. The closure of a major Chinese port does affect us. We need to view China as an adversary and understand that our trade deficits are helping to fund China's military build-up. The China virus should have opened everyone's eyes about the threat China poses.
What you see as a "Problem" is actually the greatest of all opportunities. Think of the potential for the US economy as it retools.
What Free Traitors want you to believe is that the supply function is static and no new domestic suppliers will EVER come on line. Despite their best efforts brand new factories are still being built in the USA all the time. Not as many as are closed mind you but the situation is dynamic and not static. With more domestic supply will mean pressure to reduce prices.
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