Walmart, Rivals Charter Ships To Bring In Goods To U.S.

The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world. Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers, and Baby Alive Lulu Achoo dolls, Lisa Baertlein, Jonathan Saul, and Siddharth Cavale reported for Reuters.

Photo Insert: A Lauritzen Bulkers cargo vessel. The aforementioned is the owner of the Flying Buttress.

The dry bulk cargo ship has been drafted into the service of retail giant Walmart, which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season.

"Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, US executive vice president of supply-chain operations at Walmart, which has hired a number of vessels this year.

The aim is to bypass log-jammed ports and secure scarce ship space at a time when COVID-19, as well as US-China trade ructions, equipment shortages, and extreme weather, have exposed the fragility of the globe-spanning supply lines we use for everything from food and fashion to drinks and diapers.

More than 60 container ships carrying clothing, furniture, and electronics worth billions of dollars are stuck outside Los Angeles and Long Beach terminals, waiting to unload, according to the Marine Exchange of Southern California. Pre-pandemic, it was unusual for more than one ship to be in the  waiting lane at the No. 1 US port complex, which handles more than half of all American imports.

Other big retail players, such as Target, Home Depot, Costco, and Dollar Tree, have said they are chartering ships to deal with the pandemic-driven slowdown of sea networks that handle 90% of the world's trade.

Or, as Steve Ferreira of shipping consultancy Ocean Audit describes the escalating concern: "Containergeddon."

US retailers' traditional lifeline from Asia is freezing up due to a resurgence of COVID-19 in countries like Vietnam and Indonesia plus a power supply crunch in China. The supply snarls coincide with booming demand as consumers spend more on goods than going out, and the festive shopping frenzy nears.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic