Chaos Strikes Global Shipping
nytimes.com
nytimes.com
I imagine that the whole thing cascaded from that. Online orders that would normally take a plane trip got redirected to the surface, and then the pipeline kept backing up. Until the world is connected and back to normal, bottlenecks like this will probably still exist.
This reads as "subsidised by fliers" to me
If you want to know more about this, there's a pretty good book on it: The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger
Never thought of it in this sense as a zero-sum game — but it does make a lot of sense why this is pushing the stock up for companies like Triton International.
turns out that disrupting things in software is easier, disrupting physical things in the real world that are heavy and cumbersome, more difficult.
> Some experts assume that as vaccinations increase and life returns to normal, Americans will again shift their spending — from goods back to experiences — reducing the need for containers.
Beyond masks, is it really the case that consumption of goods dramatically increased? Is it only a North America issue? A US issue?
besides labor costs, it doesn't make sense that an item that is bought in from X company with an HQ in Y country has to be manufactured in Z country and shipped thousands of miles to the consumer.
the amount of carbon generated from our reliance on third world countries must be ridiculously high, and wasteful.
The "success" of the current model relies on (a) low production costs (not only cheap labor but also less social security, lower safety standards, less regulations for environmental protection, local governments that take care of troublemakers etc.) and (b)cheap energy which is needed for cheap transportation.
Regarding point (a): Now that the Chinese workers are becoming too expensive (=they want two bowls of rice instead of one), companies are moving, like locusts, to other countries.
And point (b): As you said, the carbon footprint is terrible.