Trucking, Container Carriers, FedEx, UPS, Other Freight Firms Warn of “Capacity Shortage,” Expect Americans to Keep Splurging Despite Jobs Crisis

by Wolf Richter
Wolf Street

Better produce a big-fat stimulus bill pronto and keep eviction bans and forbearance going, or else these companies will face economic reality.

“The ships are 100% full. The containers are 100% full. You can’t get a container built. You can’t pick up a ship from the spot market. The whole container-shipping cycle is at absolutely full pulse,” said Jeremy Nixon, CEO of Ocean Network Express, the world’s fifth-largest container line, during an International Chamber of Shipping virtual event last week, cited by FreightWaves. October’s ocean container market is “unbelievable,” he said. “We are sold out.”

“Our job now is to keep the network going from an operational standpoint,” he said. “The ports are getting jammed up now. We’re starting to see bottlenecks in the supply chain. That’s another challenge going into this winter.”

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