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01 Sep

Dollar Tree describes container-ship chaos

Dollar Tree describes container-ship chaos, with voyages doubling in length, costs skyrocketing, and one boat turned away from China over a single COVID case on board.

Dollar Tree fired off a warning flare on skyrocketing freight delays and costs during its Thursday earnings call, shining a light on the turbulence within the world of international maritime shipping.

Dollar Tree executives blamed the rising prices on spiking demand, cramped capacity, and countless delays. Other major factors include equipment shortages, misplaced equipment, port delays, COVID-19-induced labor shortages and closures, and “the lingering effects of the Suez Canal blockage.”

Read the full article here: https://www.businessinsider.com/dollar-tree-international-shipments-delay-are-taking-forever-2021-8?r=US&IR=T