Supply squeeze hits wharves as Visy backs calls for reforms
May 24, 2021 â 12.00am
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Singapore | Australiaâs trade-dependent companies are backing calls for a regulator to examine shipping practices as global freight bottlenecks hit imports and exports.
Paper and packaging giant Visy has backed the regulatory change. In late March, a shipment of paper reels manufactured in Australian paper mills arrived in Singapore, bound for South Africa. They were supposed to have got to Durban by April 21. A month later, they are still stuck in Singapore.
Stuck: Visy has been trying for weeks to get paper reels bound for Durban out of Singaporeâs container port terminal.Â
Container chaos as COVID, industrial action, weather cause perfect storm for import and export delays
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FebFebruary 2021 at 7:24am
Fish feed producer BioMar Australia is among the local businesses struggling to get key ingredients amid international shipping delays.
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A perfect storm of events is causing big delays to international shipping and pushing up the costs to get goods in and out of Australia.
Key points:
Companies are paying more to import and export goods
The delays are causing container shortages across the shipping industry internationally
The pandemic caused havoc to the flow of goods across the globe, with shutdowns, booming ecommerce, the collapse of air travel, industrial action and a shipping container shortage leading to higher freight prices and delays.