TOEIC ETS

Shipping Disruptions SINGAPORE (6 June)-Recently, the demand for international freight space has been outpacing the availability of shipping containers. This container shortage has led to higher costs for goods being shipped out of Asian ports. A drop in the production of rolls of steel, the raw material that containers are made from, has further complicated the situation. — [1] —. Some exporters have considered the more expensive option of air freight, but companies are still faced with a difficult choice. — [2] — They must either ask their customers to accept shipment delays, or substantially raise customer prices to cover the costs of expedited shipping. Either way, suppliers risk triggering customer dissatisfaction. ”We are working with business partners, investors, and government officials to discuss solutions to this problem," said Henry Lam, a spokesperson for the household goods producer QET Group. - [3]—. "It's going to take total cooperation of all stakeholders to find a solution.” Not all companies are suffering, though. For example, Fezker, the producer of athletic apparel and footwear, has implemented strategies to better overcome this situation. Fezker has successfully refocused its efforts away from exports to western countries and toward expanding its domestic and regional markets. — [4] —. ”We moved quickly, so the shipping container shortage has not caused a significant impact on our profits," said Fezker CEO Nuwa Lee.

What is mentioned about shipping containers?