There were 465 press releases posted in the last 24 hours and 223,032 in the last 365 days.

World transport was a large number earlier than Ever Given blocked the Suez Canal

The grounding of the Ever Given has delayed shipments of consumer goods from Asia to Europe and North America, and agricultural products moving in the opposite direction. As of Monday, some 367 vessels, including oil tankers and dozens of container ships, were waiting to transit the canal, which handles about 12% of global trade.

“There’s been a great convergence of constraints in supply chains like I’ve never seen before,” said Bob Biesterfeld, the CEO of C.H. Robinson, one of the world’s largest logistics firms. The bottlenecks are widespread, affecting transport by air, ocean and road, Biesterfeld told CNN Business in an interview. “It really has been unprecedented.”

Freight costs soaring

More than 80% of global trade by volume is moved by sea, and the disruptions are adding billions of dollars to supply chain costs. Globally, the average cost to ship a 40-foot container shot up from $1,040 last June to $4,570 on March 1, according to S&P Global Platts.

Those costs add up. In…

The post World transport was a large number earlier than Ever Given blocked the Suez Canal appeared first on CaymanMama.com | News.