The British International Freight Association (BIFA) today released a shocking report detailing the impact of the current container crisis affecting the UK, particularly with goods from the Far East.
The information was gathered and collated by BIFA after attendees at the regular surface policy group meeting suggested it’s members need an official documentation of the issues for their clients.
You can download the document here Container market overview 21-7-21
In the report it admits there is currently no resolution to the crisis, but does give advice and measures that companies can take to limit their exposure to the ongoing upheaval. It also concludes that they expect rates to stabilise eventually at a ‘new normal’, much higher, and that some business models will become unsustainable.
We can only hope that some intervention may change the course we have been heading, but we just don’t know what. It should also be mentioned that the detailed comments made in the report are only valid as of 21st July 2021, and due to the volatile nature of this fast moving situation, may be outdated.
We hope you find this information useful.
Yours,
The Jordon Team