Supply Chain Disruptions Will Take ‘Quite A Long Time’ To Resolve, Says Shipping Firm CEO

11/03/2021

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Yen Nee Lee | CNBC

Disruptions in global supply chains — which have led to a shortage of some goods — will take “quite a long time” to resolve and push consumer prices even higher, a shipping executive said.  

Global trade bounced back strongly after a slump caused by the Covid-19 pandemic. But that has contributed to problems ranging from a shortage of shipping containers and warehouse capacity, to congestion at ports and a lack of truck drivers to move goods.    

“This is going to take quite a long time to sort out,” Tim Huxley, chief executive of Hong Kong-based Mandarin Shipping, told CNBC’s “Street Signs Asia” on Tuesday.

“And each sector that is involved in this particular combination of black swan events has really got to try and address its particular issues,” said Huxley.

For one, the shipping industry is building more container fleet, he said. However, most of that new capacity won’t be ready until 2023 at the earliest — until then, a shortage of ships persists, Huxley added.

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