Costco is renting 3 container ships and 'several thousand containers' to shield itself from supply chain delays and rising costs

Credit: Business Insider- Published 3 weeks ago
Retailers across the US are facing delays, shortages, and rising costs because of an ongoing breakdown in the shipping supply chain.

Video credit: Wibbitz Top Stories
Published 2 weeks ago -  01:30
Major Retailers Take Steps to Avoid Supply Chain Disruption
Major Retailers, Take Steps to Avoid, Supply Chain Disruption. As the busy holiday season approaches, a backup of container ships off the coast of major ports has disrupted the United States' supply chain. As the busy holiday season approaches, a backup of container ships off the coast of major ports has disrupted the United States' supply chain. ABC News reports that consumers could face higher prices and shipping delays as a result. Retail experts say that consumers should allow extra time for holiday shopping this year. . We're witnessing a pandemic-induced buying surge by the American consumer, the likes of which we've never seen, Gene Seroka, Executive director of the Port of Los Angeles, via 'Good Morning America'. We're witnessing a pandemic-induced buying surge by the American consumer, the likes of which we've never seen, Gene Seroka, Executive director of the Port of Los Angeles, via 'Good Morning America'. The COVID-19 pandemic has caused delays in both shipping and production. . The COVID-19 pandemic has caused delays in both shipping and production. . According to ABC News, limited warehouse space, trucking issues and labor shortages have all contributed to the supply chain disruption. . According to ABC News, limited warehouse space, trucking issues and labor shortages have all contributed to the supply chain disruption. . There are shortages across a number of industries, perhaps nowhere more acutely so than in front-line workers such as port workers and truck drivers, Aaron Terrazas, Convoy director of economic research, via 'Good Morning America'. There are shortages across a number of industries, perhaps nowhere more acutely so than in front-line workers such as port workers and truck drivers, Aaron Terrazas, Convoy director of economic research, via 'Good Morning America'. To compensate, large retailers like Costco and Walmart have started renting shipping containers and looking for alternate ports of entry. To compensate, large retailers like Costco and Walmart have started renting shipping containers and looking for alternate ports of entry. In an attempt to reduce delays, some container ships are being redirected from Long Beach to other ports like Oakland and Vancouver. . In an attempt to reduce delays, some container ships are being redirected from Long Beach to other ports like Oakland and Vancouver. . Long Beach port officials have extended operating hours, as experts say the global issue could take over a month to resolve. Long Beach port officials have extended operating hours, as experts say the global issue could take over a month to resolve

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