{"id":1048866,"date":"2021-11-23T15:45:29","date_gmt":"2021-11-23T20:45:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048866"},"modified":"2021-11-23T15:45:32","modified_gmt":"2021-11-23T20:45:32","slug":"shipping-prices-up-500-1000-for-some-firms","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shipping-prices-up-500-1000-for-some-firms\/","title":{"rendered":"Shipping Prices Up 500%, 1000% For Some Firms"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fshipping-prices-up-500-1000-for-some-firms%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048866&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Amid supply chain bottlenecks gripping the United States economy, firms are dealing with shipping costs that have increased by several hundred percentage points.<\/p>\n<p>During an interview with <a href=\"https:\/\/www.cnbc.com\/2021\/11\/22\/shipping-container-cost-from-asia-jumped-500percent-since-last-year-traeger-ceo-says.html\">CNBC<\/a>, Jeremy Andrus \u2014 the chief executive of Traeger, a grill company \u2014 explained that his firm is seeing diminished profits due to the cost of shipping.<\/p>\n<p>\u201cBringing a 40-foot container from Asia to the U.S. twelve months ago was about $1,500. Today, you\u2019re spending upwards of $30,000 and we\u2019re certainly averaging close to $10,000,\u201d Andrus said, implying that typical shifting costs have increased by over 550%. \u201cOur inventory is big and heavy. It takes up a lot of container space, and so we are particularly sensitive to transportation costs.\u201d<\/p>\n<p>\u201cWe\u2019re sensitive to a near-term shift. The world will right-size itself, in terms of these costs, and we will see some significant flow through to the bottom line,\u201d Andrus said. \u201cBut right now, we are driving the brand. We are thinking about the engine, the brand health.\u201d<\/p>\n<p>As <a href=\"https:\/\/www.dailywire.com\/news\/goya-ceo-says-inflation-is-forcing-company-to-hike-prices\">The Daily Wire<\/a> previously reported, Goya Foods CEO Bob Unanue raised similar concerns during an interview with Fox Business.<\/p>\n<p>\u201cWe bring products like coconut water from Thailand [and] from Vietnam and a container with about 1,300 cases of coconut water in it used to cost about $1,800, $1.40 a case; it\u2019s gone up to $20,000 to get on a container ship if you can,\u201d he explained, indicating that shipping costs have risen by over 1,000%.<\/p>\n<p>\u201cWe\u2019re vertically integrated,\u201d said Unanue, adding that the cost of packaging materials has skyrocketed.<\/p>\n<p>A recent report from the United Nations Conference on Trade and Development <a href=\"https:\/\/www.dailywire.com\/news\/un-report-supply-chain-crisis-may-drive-import-cost-of-computers-apparel-furniture-up-more-than-10\">said<\/a> \u201ccontainer ship carrying capacity, container shortages, labour shortages, continued on and off COVID-19 restrictions across port regions and congestion at ports\u201d could lead to consumer price hikes through 2023.<\/p>\n<p>\u201cManufacturers in the United States rely mainly on industrial supplies from China and other East Asian economies, so continued cost pressures, disruption and delays in containerized shipping will hinder production,\u201d said the organization. \u201cA 10% increase in container freight rates, together with supply chain disruptions, is expected to decrease industrial production in the United States and the euro area by more than 1%, while in China production is expected to decrease by 0.2%.\u201d<\/p>\n<p>Among the predicted price hikes for consumer goods were:<\/p>\n<p><em>Computer, electronic and optical products \u2014 11.4%<\/em><em>Furniture; other manufacturing \u2014 10.2%<\/em><em>Textiles, wearing apparel and leather products \u2014 10.2%<\/em><em>Rubber and plastic products \u2014 9.4%<\/em><em>Basic pharmaceutical products and pharmaceutical preparations \u2014 7.5%<\/em><\/p>\n<p>In a <a href=\"https:\/\/www.dailywire.com\/news\/lee-desantis-other-republican-governors-join-forces-to-solve-supply-chain-crisis\">letter<\/a> to President Joe Biden, fifteen Republican governors argued that the administration\u2019s COVID-19 vaccine mandate and other regulations are worsening the supply chain crisis.<\/p>\n<p>The governors \u201ccommit to using our authority where allowable to modify weight, size, or load restrictions to allow more cargo to move more efficiently; adjust hours of service constraints to provide truck drivers more time and flexibility; deregulate education and occupational licensure barriers to get more commercial truck drivers on the road.\u201d<\/p>\n<p>They likewise vowed to \u201cconvene state agencies in transportation, commerce, workforce, and other related fields to coordinate with private industry, local governments, and neighboring states where appropriate to ensure greater efficiency, connectivity, and data sharing among shippers and receivers at ports, distribution points, storage facilities, and other intrastate corridors for the expedited loading, unloading, and transport of freight.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid supply chain bottlenecks gripping the United States economy, firms are dealing with shipping costs that have increased by several hundred percentage points.During an interview with CNBC, Jeremy Andrus \u2014 the chief executive of Traeger, a grill company \u2014 explained that his firm is seeing diminished profits due to the cost of shipping.\u201cBringing a 40-foot container from Asia to the U.S. twelve months ago was about $1,500. Today, you\u2019re spending upwards of $30,000 and we\u2019re certainly averaging close to $10,000,\u201d Andrus said, implying that typical shifting costs have increased by over 550%. \u201cOur inventory is big and heavy. It takes up a lot of container space, and so we are particularly sensitive to transportation costs.\u201d\u201cWe\u2019re sensitive to a near-term shift. The world will right-size itself, in terms of these costs, and we will see some significant flow through to the bottom line,\u201d Andrus said. \u201cBut right now, we are driving the brand. We are thinking about the engine, the brand health.\u201dAs The Daily Wire previously reported, Goya Foods CEO Bob Unanue raised similar concerns during an interview with Fox Business.\u201cWe bring products like coconut water from Thailand [and] from Vietnam and a container with about 1,300 cases of coconut water in it used to cost about $1,800, $1.40 a case; it\u2019s gone up to $20,000 to get on a container ship if you can,\u201d he explained, indicating that shipping costs have risen by over 1,000%.\u201cWe\u2019re vertically integrated,\u201d said Unanue, adding that the cost of packaging materials has skyrocketed.A recent report from the United Nations Conference on Trade and Development said \u201ccontainer ship carrying capacity, container shortages, labour shortages, continued on and off COVID-19 restrictions across port regions and congestion at ports\u201d could lead to consumer price hikes through 2023.\u201cManufacturers in the United States rely mainly on industrial supplies from China and other East Asian economies, so continued cost pressures, disruption and delays in containerized shipping will hinder production,\u201d said the organization. \u201cA 10% increase in container freight rates, together with supply chain disruptions, is expected to decrease industrial production in the United States and the euro area by more than 1%, while in China production is expected to decrease by 0.2%.\u201dAmong the predicted price hikes for consumer goods were:Computer, electronic and optical products \u2014 11.4%Furniture; other manufacturing \u2014 10.2%Textiles, wearing apparel and leather products \u2014 10.2%Rubber and plastic products \u2014 9.4%Basic pharmaceutical products and pharmaceutical preparations \u2014 7.5%In a letter to President Joe Biden, fifteen Republican governors argued that the administration\u2019s COVID-19 vaccine mandate and other regulations are worsening the supply chain crisis.The governors \u201ccommit to using our authority where allowable to modify weight, size, or load restrictions to allow more cargo to move more efficiently; adjust hours of service constraints to provide truck drivers more time and flexibility; deregulate education and occupational licensure barriers to get more commercial truck drivers on the road.\u201dThey likewise vowed to \u201cconvene state agencies in transportation, commerce, workforce, and other related fields to coordinate with private industry, local governments, and neighboring states where appropriate to ensure greater efficiency, connectivity, and data sharing among shippers and receivers at ports, distribution points, storage facilities, and other intrastate corridors for the expedited loading, unloading, and transport of freight.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1048866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1048866"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1048866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1048866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1048866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}