Roughly 77 ships are currently waiting outside docks in the Ports of Los Angeles and Long Beach, California, carrying a staggering $24 billion worth of goods waiting to be offloaded, CNBC reported, citing economists at Goldman Sachs.
Speaking to Bloomberg News, Dubai's DP World Chairman and CEO Sultan Ahmed Bin Sulayem said he expects bottlenecks to continue until 2023. The issues will result in higher costs for shipping goods, he warned.