Shipping To Aus Expensive, Slow Until 2023: Toll CEO
Toll Group CEO Thomas Knudsen expects shipping to Australia to remain expensive and slow until “at least early 2023” due to a number of global events.
The ongoing war in Ukraine, Shanghai lockdowns, and soaring global inflation have all added to the shipping woes.
“I’ve been in this industry for more than 30 years and it’s probably been the most disruptive year ever,” Knudsen told the AFR.
“Our forecast, and what we hear from most of our partners is that this is likely to continue all the way at least to Chinese New Year – January/February next year,” he said.
“It’s not like everything has been solved, we think many of the bottlenecks are starting to re-materialise as we get into the June-July-August period.”
Inflation is also an issue.
“If we go into a recession, and that means that consumers will be buying less, that means less for us to transport and move around the world.”