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New crisis! Apparently shipping companies are reporting record profits as they've apparently taking advantage covid in order to price gouge toy companies on shipping causing massive delays and rising toy prices.
https://toybook.com/global-shipping-crisis-price-gouging/
>According to ZURU Co-Founder and Director Nick Mowbray, “shipping companies are reporting profits in Q1 that are more than the 10 previous years of Q1 profit combined. Then we get emails like this saying due to operational challenges, another blanket surcharge will just be added arbitrarily. That ‘extra’ random charge is almost double the cost it was to ship the entire container a year ago!”
>The letter in question was sent to clients by Hapag-Lloyd AG — one of the major global shipping companies — informing them of a “Value Added Surcharge (VAD)” for Trans-Pacific trade, including shipments from China to the U.S. and Canada. Effective Aug. 15, the VAD surcharge will be billed at $4,000 for 20-foot containers and $5,000 for 40-foot containers. Mowbray shared the letter publicly on LinkedIn.
https://toybook.com/global-shipping-crisis-price-gouging/
>According to ZURU Co-Founder and Director Nick Mowbray, “shipping companies are reporting profits in Q1 that are more than the 10 previous years of Q1 profit combined. Then we get emails like this saying due to operational challenges, another blanket surcharge will just be added arbitrarily. That ‘extra’ random charge is almost double the cost it was to ship the entire container a year ago!”
>The letter in question was sent to clients by Hapag-Lloyd AG — one of the major global shipping companies — informing them of a “Value Added Surcharge (VAD)” for Trans-Pacific trade, including shipments from China to the U.S. and Canada. Effective Aug. 15, the VAD surcharge will be billed at $4,000 for 20-foot containers and $5,000 for 40-foot containers. Mowbray shared the letter publicly on LinkedIn.
