{"id":59653,"date":"2021-10-04T06:43:00","date_gmt":"2021-10-04T11:43:00","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59653"},"modified":"2021-10-04T06:43:00","modified_gmt":"2021-10-04T11:43:00","slug":"global-supply-chain-crisis-to-last-until-2023-says-middle-easts-largest-port-operator","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59653","title":{"rendered":"&#8220;Global Supply Chain Crisis To Last Until 2023,&#8221; Says Middle East&#8217;s Largest Port Operator"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/commodities\/global-supply-chain-crisis-last-until-2023-says-middle-easts-largest-port-operator\">&#8220;Global Supply Chain Crisis To Last Until 2023,&#8221; Says Middle East&#8217;s Largest Port Operator<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>Global central bankers have been out and about continuing to promote a narrative that inflation is &#8220;transitory.&#8221; We&#8217;ve seen it from the likes of Powell, Lagarde, Bailey, and Kuroda. Logically, these monetary wonks are right, inflation caused by supply chain bottlenecks will resolve itself, but these officials have yet to provide a timeline because they don&#8217;t know.<\/p>\n<p>For more insight on when global supply chain bottlenecks will subside, Dubai&#8217;s DP World, one of the biggest international port operators, Chairman and CEO Sultan Ahmed Bin Sulayem spoke with\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-01\/dubai-port-operator-dp-world-sees-lasting-supply-disruptions?srnd=markets-vp\">Bloomberg TV<\/a>\u00a0at the Dubai Expo 2020 on Friday and said disruptions could last for another two years.<\/p>\n<blockquote><p><strong><em>&#8220;The global supply chain was in crisis at the beginning of the pandemic,&#8221; Bin Sulayem said.\u00a0<u>&#8220;Maybe in 2023 we&#8217;ll see an easing.&#8221;<\/u><\/em><\/strong><\/p><\/blockquote>\n<div class=\"Advert_desktop__1J5vD Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-video\" class=\"Advert_verticallySpaced__wnPy3\" data-google-query-id=\"CMP0tf7PsPMCFQjKhwodcbgAtg\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\">He pointed to skyrocketing container rates and said price increases are due to shortages and the accumulated delays. <strong>&#8220;Freight rates will continue to increase<\/strong>, and the shipping lines are having an amazing time,&#8221; he added.<\/div>\n<\/aside>\n<\/div>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/Snag_47dc916c.png?itok=Cvq0zyif\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/Snag_47dc916c.png?itok=Cvq0zyif\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/Snag_47dc916c.png?itok=Cvq0zyif\" alt=\"\" width=\"500\" height=\"275\" data-entity-type=\"file\" data-entity-uuid=\"32a196ba-fe64-47e4-b5b7-fa0b670abb73\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>For some context on DP World&#8217;s operations, it manages the Port of Jebel Ali, also known as Mina Jebel Ali, a deep port located in Jebel Ali, Dubai, United Arab Emirates. The port is the world&#8217;s ninth busiest port.<\/p>\n<p>The world&#8217;s largest shipping line, A.P. Moller-Maersk, recently warned bottlenecks might last longer than expected, and some shippers have pledged to cap spot rates.\u00a0<a href=\"https:\/\/www.zerohedge.com\/commodities\/dhl-warns-global-supply-chain-disruptions-persist-next-year\">DHL<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.zerohedge.com\/markets\/top-ups-exec-warns-supply-china-disarray-will-leave-permanent-scar\">UPS<\/a>\u00a0have also warned supply chain disorder will not only persist into next year but could leave a permanent scar.<\/p>\n<p>Before global supply chains splinter further and lead to more shortages worldwide, the question is:\u00a0<em>How can<\/em>\u00a0supply-chain bottlenecks be resolved?<\/p>\n<p>Since the crisis was created by surging demand putting strain on container capacity, suppliers, and logistics companies as they struggled to deliver goods&#8230;<\/p>\n<div class=\"Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-1\" class=\"Advert_centered__2tRj9 Advert_verticallySpaced__wnPy3\" data-google-query-id=\"CIm_6aXTsPMCFU3rhwodDmsLwA\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_1_0__container__\">\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/aside>\n<\/div>\n<\/div>\n<footer class=\"NodeContent_footer__2EL1s\"><\/footer>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Global Supply Chain Crisis To Last Until 2023,&#8221; Says Middle East&#8217;s Largest Port Operator Global central bankers have been out and about continuing to promote a narrative that inflation is &#8220;transitory.&#8221; We&#8217;ve seen it from the likes of Powell, Lagarde, Bailey, and Kuroda. Logically, these monetary wonks are right, inflation caused by supply chain bottlenecks [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3832,31894,426,4856,3237],"class_list":["post-59653","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-bankers","tag-container-rates","tag-inflation","tag-shipping","tag-supply-chains"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59653"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59653\/revisions"}],"predecessor-version":[{"id":59654,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59653\/revisions\/59654"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}