Freight turmoil hitting red meat exports in Australia
Published Sep 1, 2021
However, global shipping and air-freight have been in turmoil over the last year. Consumer demand for goods has vastly exceeded expectations, most notably in the US, and supply chains have grappled with relentless disruptions from COVID-19. With relatively inelastic global shipping capacity, container shortages have been exacerbated, freight rates have skyrocketed (particularly on Asia-US and Asia-Europe routes but also ex-Australia) and bottlenecks have emerged at major ports across the world. This stretched shipping environment has been thrown further into disarray as key international ports and their surrounding freight networks have gone into lockdown following COVID-19 outbreaks, such as at Yantian Port and, more recently, at Ningbo Port in China. Other sources of disruption have derailed supply chains, such as the blockage of the Suez Canal or industrial action at Port Botany in Australia. Meanwhile, air-freight has offered little reprieve from such pressures, with passenger ...