Supply chain crisis expected to ease in 2nd half of 2022 – CARICOM Business

The CDB Annual Meeting will examine strategies for transforming the agri-food sector, with an emphasis on improving cross border trade
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Global shipping giant Hapag-Lloyd anticipates that the strained situation in the global supply chains will ease in the second half of 2022.

In its recently released annual report, its revenue growth was attributed mainly to a higher average freight rate of 2,003 USD/TEU (2020: 1,115 USD/TEU). Transport volumes were roughly on a par with the prior-year level, at 11.9 million TEU (2020: 11.8 million TEU) due to the strained supply chains.

At the same time, transport expenses rose very significantly, by 17.1%. This was particularly due to higher bunker prices and charter rates as well as increased demurrage and storage fees.

Extract from the CARICOM BUSINESS Newsletter, Vol 5 No. 11

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