Ocean carriers drove prices of goods up during pandemic

To the Editor:

During times of economic strife, there are almost always industry segments that thrive for all the wrong reasons. During the COVID-19 pandemic, that segment has been the ocean carrier community. In 2020, ocean carriers cemented historic, record-breaking profits due to the increase in demand for products being imported into the U.S. While shippers have seen prices increase dramatically, we’ve also seen delays mount up.

NACD is an international association of chemical distributors and their supply-chain partners. A recent survey of ours found that over 80% of respondents have experienced average delays of 11 days or more. Shipping costs are also up an average of over 80 percent since the outbreak of the pandemic. Delays and price increases don’t only mean inconvenience and lost revenues, they also mean higher consumer prices and the potential for shortages of the inputs that go into some of our most critical industrial and consumer goods.

Commerce from shipping is critical to Savannah and the entire state of Georgia. In 2020, 4.6 million containers moved through the Port of Savannah — providing work and stability for many Georgians. But the greed of ocean carriers is threatening all that with sky-high rates and unacceptable delays. It’s time for leaders in Georgia to hold ocean carriers accountable for their anti-competitive behavior.

Eric R. Byer

Arlington, Va.

Eric R. Byer is president and CEO of the National Association of Chemical Distributors.