We recently posted about the record congestion in the ports of Los Angeles and Long Beach where over 60 container ships wait at anchor or simply drift offshore awaiting berth space. The port congestion has spread to the East Coast where more than two dozen ships are waiting for dock space off the coast near New York.
The pandemic is largely blamed for the breakdown of the shipping supply chain. Pandemic-related pent-up demand for goods has created a huge trade imbalance with Asia, while labor shortages among longshoremen, truck drivers and other support and logistics staff have slowed cargo moving through the ports and transport hubs. In addition to delays in cargo deliveries, container shipping rates have also skyrocketed. Market rates for a 40′ container have risen from an average of around $1,500 in June 2020 to a record price of over $20,000 in August 2021.
Several major shippers have taken matters into their own hands. Continue reading
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The world’s largest offshore floating wind farm has begun operation off Kincardine, approximately 15 kilometers off the southeast coast of Aberdeenshire, Scotland, at water depths ranging between 60 and 80 meters. The five floating turbines are expected to generate up to 218GWh of clean electricity per year, an output that will be enough to power approximately 55,000 households.
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