US retailers charter ships to tackle supply chain crisis

Major US retailers have begun to charter their own vessels in an attempt to overcome global supply chain disruptions, according to Reuters. The retailers include Walmart, Target, Home Depot, Costco and Dollar Tree. Walmart’s stated goal is to bypass backed-up ports and secure scarce ship space at a time when Covid-19 and other issues have underlined the fragility of the globe supply lines as well.
More than 60 container ships are currently stuck outside Los Angeles and Long Beach ports waiting to unload, according to Marine Exchange of Southern California. Incoming cargo at the Port of Los Angeles is up 30% from last year’s record levels and trucks and trains can’t remove it fast enough, the port’s Executive Director Gene Seroka said.