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'Containergeddon': Supply crisis drives Walmart and rivals to hire their own ships
October 7, 2021
7:37 AM EDT
Last Updated 3 hours ago
The Great Reboot
'Containergeddon': Supply crisis drives Walmart and rivals to hire their own ships
By Lisa Baertlein and Jonathan Saul, Siddharth Cavale
Summary
• Big U.S. retailers charter vessels amid supply crunch
• Dozens of container ships stuck at U.S. West Coast ports
• Companies reliant on Asia supplies face tough holiday season
• Shipping operators can cash in on spike in container rates
LOS ANGELES, Oct 7 (Reuters) - The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world.
Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls.
The dry bulk cargo ship has been drafted into the service of retail giant Walmart (WMT.N), which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season.
"Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, U.S. executive vice president of supply-chain operations at Walmart, which has hired a number of vessels this year.
The aim is to bypass log-jammed ports and secure scarce ship space at a time when COVID-19, as well as U.S.-China trade ructions, equipment shortages and extreme weather, have exposed the fragility of the globe-spanning supply lines we use for everything from food and fashion to drinks and diapers.
{snip}
7:37 AM EDT
Last Updated 3 hours ago
The Great Reboot
'Containergeddon': Supply crisis drives Walmart and rivals to hire their own ships
By Lisa Baertlein and Jonathan Saul, Siddharth Cavale
Summary
• Big U.S. retailers charter vessels amid supply crunch
• Dozens of container ships stuck at U.S. West Coast ports
• Companies reliant on Asia supplies face tough holiday season
• Shipping operators can cash in on spike in container rates
LOS ANGELES, Oct 7 (Reuters) - The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world.
Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls.
The dry bulk cargo ship has been drafted into the service of retail giant Walmart (WMT.N), which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season.
"Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, U.S. executive vice president of supply-chain operations at Walmart, which has hired a number of vessels this year.
The aim is to bypass log-jammed ports and secure scarce ship space at a time when COVID-19, as well as U.S.-China trade ructions, equipment shortages and extreme weather, have exposed the fragility of the globe-spanning supply lines we use for everything from food and fashion to drinks and diapers.
{snip}
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