Episode 1118: Think Tank: UK distributors face higher costs, margin pressure from Red Sea disruption

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As more shipping is diverted away from the Suez Canal, supply chains in the UK are being stretched as shipping capacity is reduced and container rates rise. -          UK distributors under pressure as Red Sea disruption increases shipping costs, disruption-          Shortages of capacity as vessels at sea for longer  -          Container rates have doubled, shipping companies unwilling to guarantee space-          Demand spikes as supply chains build safety stocks-          High stock levels have mitigated impact of logistics disruption-          Logistics crisis has dampened optimism for 2024 recovery  -          Consumer confidence hurt by cost of living crisis, political uncertainties-          Chemical Business Association working with government on UK Reach-          China’s economic problems impact chemical markets everywhere