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International

Global shipping woes unlikely to improve until 2023

May 19, 2022 Reprints

According to U.K.-based Drewry Shipping Consultants Ltd., the global container shipping industry is in the worst state in 50 years as worldwide port congestions make containers’ transit and lead times highly unpredictable, Automotive Logistics reported. The situation is unlikely to improve until the first half of 2023, with the war in Ukraine, China’s COVID-19 lockdowns, soaring fuel prices and economic recession only making the future more uncertain and grim.

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Global shipping woes unlikely to improve until 2023

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