Global Supply Chain Woes Lingering Longer

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Shipping giant Maersk said that congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated.

Maersk raised its 2022 profit guidance for a second time on Tuesday, 8/2/22, after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.

It ain't over yet.

When Will We See Relief on Overseas Shipping Challenges?

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Tim Scharwath, CEO of DHL Global Forwarding says that shippers should expect higher freight rates, long-term – and also not expect much easing in the market until Chinese New Year 2022 and ‘normality’ in 2023. 

Ouch.  Read on to deal with reality  – that it may get worse before it gets better.