Congestion at U.S. and Canadian ports continues to be cited as the reason many ocean vessels have canceled sailings in September. As a result, these carriers will no longer be in position to load U.S. imports and exports.
According to maritime analytics provider MarineTraffic, there has been an increase in the number of vessels anchored off the East Coast and Gulf ports. The ongoing strike at British port Felixstowe, which is slowing down $4.7 billion in trade, is expected to add to the complications and backlog.
The latest data from logistics company Freightos shows that shipping rates from Europe to North America and China to Europe are both up because of massive port congestion.
Andreas Braun of Crane Worldwide Logistics said he expects it will take at least two months for the backup of containers to be cleared out.