ICTSI's Christian Gonzalez expects the situation to be 'quite messy for some time, and it is not something that can be solved by adding more ships into the system.'
The situation has been particularly severe in major retail markets such as the United States, where dozens of vessels remain stuck off the West Coast ports of Los Angeles and Long Beach, unable to discharge.
"From a transpacific point of view, it's going to be quite messy for some time, and it is not something that can be solved by adding more ships into the system. That is going to create a bigger backlog." The buoyant cargo activity was also impacting other regions including Iraq, Gonzalez said, where ICTSI operates the Basra Gateway Terminal in the south of the country.
"There is quite a bit of disruption in Iraq, mostly because of container shortages and people just not wanting to send containers on those routes," he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China launches second crewed mission to build space stationThe Shenzhou-13 spacecraft, which means 'Divine Vessel,' successfully docks to the port of the space station, says the China Manned Space Agency.
Read more »
Malaysia chip crunch triggers new era in supply dealsMalaysian electronics firms say big-name customers are beating on their doors to lock in take-or-pay, longer-term deals - and happy to pay more if need be.
Read more »
DOE: Tight supply, high demand behind rising oil pricesThe Department of Energy (DOE) on Tuesday said that Tight supply in the international world market and high demand are behind the rising oil prices with deficits forecast to extend until the end of the year.
Read more »
Cinemas are safe spaces - groupCinema operators assured moviegoers it would be safe to watch movies on the silver screen once theaters in Metro Manila reopen.
Read more »
UK fines Facebook over £50 million for Giphy takeover breachBritain’s competition watchdog said it had fined social network giant Facebook over £50 million for a “deliberate” failure to supply information linked to its takeover of animated graphics startup Giphy. | AFP
Read more »