Zero Hedge
By Tyler Durden – September 1, 2021
By Greg Miller of FreightWaves
Hope for any relief this year has vanished. French carrier CMA CGM is the latest in a long line of market participants to push back its timeline on normalization. Capacity constraints “are expected to continue until the first half of 2022,” CMA CGM warned on Friday.
Alarmingly, America’s import system — which is already stretched to the limit — looks like it will have to handle even higher volumes next month. The likely outcome: Carriers will be forced to cancel more sailings as terminal berths max out and ships get stuck at anchor, even more cargo will get “rolled” (pushed to a future sailing), and importers will face even longer delays and even less slot availability as they scramble to build inventories for holiday sales.