Bottlenecks in the Shipping Industry
July 26, 2022
In the past seven years, the number of active shipyards has declined by 45%, and some of the remaining shipyards have also diminished in size, leading to significant port congestion, delays, and increases in shipping costs.
At the same time, merchant fleet tonnage has been consistently increasing, as has the size of the vessels (making it more difficult for them to navigate existing channels), exacerbating the issue.
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