The cost of shipping goods has surged 25-30% since the start of the pandemic due to array of inflationary pressures that are “unlikely to abate in the short term,” world No. 1 container shipping company Maersk told Reuters.
Maersk is viewed as a bellwether for global trade as it transports goods for retailers and consumer companies from Walmart WMT.N and Nike to Unilever .
Higher supply chain costs have rocked the retail and packaged goods industries since the start of the COVID-19 outbreak, particularly over the past year as economies have started to recover, with logjams at key ports holding up containers of everything from food and health products to toys.
“I think some more inflation (will) come through in the years to come,” Vincent Clerc, chief executive of Ocean and Logistics at Maersk said in an interview during the Consumer Goods Forum’s Global Summit conference in Dublin.
“Logistics is very energy and labour intensive, and those are two of the areas of the economy that are subject to significant inflationary pressure.”