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September 14, 2021

Global shipping bottlenecks set to prolong supply chain turmoil

Tenfold jump in costs since start of pandemic squeezes importers and exporters  The closure of a terminal at the world’s third-busiest container port is only the latest sign that turmoil in ocean shipping could run into next year, posing a threat to global economic growth as chronic delays and soaring transport costs may leave demand unmet and push up consumer prices.  A coronavirus outbreak led to a partial shutdown at Ningbo-Zhoushan port last month and the resulting suspension of inbound and outbound container ships reduced the port’s capacity by a fifth. It ...

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