You might have enough toilet paper lately, but holiday shopping may be harder to come by for some items this year. From a shortage of actual shipping containers to gridlock at major ports, the global supply chain continues to be impacted by COVID.
President Biden announced that the Port of Los Angeles will now operate on a 24/7 basis, in an effort to keep up with the pace and mitigate supply distribution issues – and in turn, support the economy. The Port of Long Beach has already implemented and 24/7 schedule. Together, the two ports are responsible for 40% of the nations imports.
“Today I’m announcing that the Port of LA will begin operating around the clock 24/7 to make sure Americans can get the goods they need,” tweeted President Biden. “My Administration is working around the clock to move more goods faster and strengthen the resiliency of our supply chains.”
According to City News Service, major retailers such as Walmart, Target, UPS, FedEx, Home Depot, and Samsung are also contributing to the effort by agreeing to expedite cargo processing time. The goal of the combined efforts is to enable 3,500 extra containers to be unpaced every night.
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Here are 5 documents relating to global shipping currently available in RealDealDocs:
Genco Shipping & Trading Limited
Sino-Global Shipping America, Ltd.
Genco Shipping & Trading Ltd
International Seaways / Diamond S Shipping
Merger Investor Presentation March 2021
Eagle Bulk Shipping Inc.
Sources
Biden Turbocharges Port of L.A. Amid Supply Chain Logjam