We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Singapore port congestion threatens to gum up international commerce
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Singapore port congestion threatens to gum up international commerce
The Tycoon Herald > Economy > Singapore port congestion threatens to gum up international commerce
Economy

Singapore port congestion threatens to gum up international commerce

Tycoon Herald
By Tycoon Herald 4 Min Read Published July 9, 2024
Share
SHARE

Unlock the Editor’s Digest without cost

Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.

The danger of upper costs for every little thing from vehicles to smartphones for the world’s customers simply bought loads greater. Congestion at Singapore’s container port, which is at its worst because the pandemic, has began spilling over to neighbouring ports, posing a threat for international provide chains. Transport charges have risen as a lot as fivefold over the previous 12 months and it is just a matter of time earlier than a few of that’s handed on to consumers. 

Singapore is the world’s largest transshipment hub: the container port connects greater than 600 ports from 123 nations and has an annual capability of 50mn 20ft equal items, a measure of quantity. Issues are getting critical when congestion from a hub of this measurement begins a domino impact for neighbouring ports.

That uncommon phenomenon is enjoying out this week with container ship congestion spreading to neighbouring Malaysia.

Singapore port congestion threatens to gum up international commerce

One clarification is that ships rerouting to keep away from Purple Sea assaults have led to bottlenecks in different Asian and European ports. Diversions have then meant extra ships going by means of Singapore. Maersk, the world’s second-largest container provider, for instance, mentioned it could skip two westbound sailings from China and South Korea this month owing to extreme congestion. JPMorgan had estimated the Purple Sea delivery disaster may add 0.7 share factors to international core items inflation for simply the primary half earlier this 12 months.

Now, one other extra surprising downside may imply lasting disruptions to the worldwide provide chain even when the Purple Sea delivery disaster eases. The full quantity of vessels, particularly to and from China, has surged in latest months, and the annual peak delivery season has arrived sooner than anticipated.

Line chart of World container index, $ per 40ft  showing Trade routes from Shanghai

US President Joe Biden unveiled tariffs on a variety of Chinese language imports together with chips, batteries, metal, medical merchandise, electrical vehicles and photo voltaic cells in Might. Tariffs have additionally been proposed on different merchandise resembling ship-to-shore cranes. Firms have been dashing to safe stock of these things earlier than every of the tariffs go into impact later this 12 months.

Amongst these hit will probably be automakers, which not like different producers of smartphones or smaller electronics, can’t shift their shipments to airfreight. 

Singapore’s ports are usually not the one hazard spot to look at. The largest US ports union suspended labour talks final month and has instructed members to arrange for a potential strike beginning in October, threatening to create an ideal storm for international provide chains.

A backlog of the same scale in Asia throughout the pandemic resulted in greater costs for all types of merchandise. The longer the delivery congestion lasts in Singapore, the upper the chance of one other inflationary jolt for the world.

[email protected]

You Might Also Like

The 4 horsemen of Europe’s tech dependency

Jay Powell thinks charges don’t have far to fall

US staff hit by slowing earnings development

UK commerce cope with Gulf states ‘almost done’ after Rachel Reeves go to

Nexperia faces ‘existential threat’ after Dutch seizure, Chinese language proprietor warns

TAGGED:congestionglobalgumportSingaporethreatenstrade
Share This Article
Facebook Twitter Email Copy Link Print
Celebrities Dressed Up for Halloween When They Have been Youngsters, Guess Who
Entertainment

Celebrities Dressed Up for Halloween When They Have been Youngsters, Guess Who

Guess Who These Cute Halloween Kiddos Turned Into!!! Printed October 31, 2025 12:01 AM PDT Halloween's upon us ... which suggests youngsters are donning their costumes and their mother and…

By Tycoon Herald 2 Min Read
Chelsea host London Metropolis Lionesses and Arsenal face Leicester as WSL returns with all six video games dwell on Sky Sports activities
October 31, 2025
Joe Mauer Says He Has No Regrets Choosing Baseball Over Soccer
October 31, 2025
Higher Therapies Buoy A number of-Myeloma Sufferers, Sure by Analysis Cuts and Racial Disparities – KFF Well being Information
October 31, 2025
Premier League: Can Man Metropolis or Liverpool realistically catch Arsenal within the title race and what number of factors are wanted?
October 31, 2025

You Might Also Like

Federal Reserve nears finish of QT amid indicators of stress in cash markets
Economy

Federal Reserve nears finish of QT amid indicators of stress in cash markets

By Tycoon Herald 6 Min Read
FirstFT: US expects China to delay uncommon earth export controls
Economy

FirstFT: US expects China to delay uncommon earth export controls

By Tycoon Herald 7 Min Read
FirstFT: EU leaders stall Ukraine mortgage utilizing frozen Russian property
Economy

FirstFT: EU leaders stall Ukraine mortgage utilizing frozen Russian property

By Tycoon Herald 7 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Entertainment

Gene Wilder Home As soon as Owned By Elon Musk Again On Market

A chunk of Hollywood actual property historical past is again up for grabs ... the Gene…

By Tycoon Herald
Politics

1000’s Display For Employees’ Rights, In opposition to Trump On Might Day

Credit score: (Screenshot), ABC7, by way of YouTubeCredit score: (Screenshot), ABC7, by way of YouTube 1000's…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?