OECD says shipping freight rates are driving G20 inflation

In case we didn’t notice it, shipping freight rate increases are the source of significant inflation throughout the 20 most developed countries. If you are complaining about inflation, point here.

The firms involved are passing the price rises on to consumers, resulting in higher prices. We may not be close to the end of the rises, either. We have not seen much to encourage a belief that the supply chain snafus will not continue and be disruptive for at least a year. No one seems to know what to do.

I fear even the choice of very large shippers to lease their own ships and avoid the traditional ocean container lines will not be all that easy. The extra ships will add to port delays, since they must load and unload just where the ocean shippers do. Ports are backed up, and also are running out of space for containers; and of course the driver shortage is preventing containers moving out fast.

Do we have to turn to rationing of scarce resources to get out of this dilemma, to make delivery predictable?

By Nick Savvides 13/10/2021

OECD says huge increases in shipping freight rates are driving G20 inflation – The Loadstar

Another source by Sam Chambers has some nice graphs: https://splash247.com/oecd-tracks-how-much-container-shippings-sky-high-freight-rates-are-contributing-to-global-inflation/