Welcome to our special 200th episode of China Manufacturing Decoded, a podcast by Sofeast Group, where we discuss global manufacturing topics to help you decode and navigate the supply chain world.
In this episode, we discuss the impact of the Houthi Yemeni rebels' attacks on shipping in the Red Sea, and how it may affect your shipping costs and other issues you might face. We're joined by our very own Kate Oliynykova, Head of Supply Chain Management at Sofeast Group, who shares her insights on the current political events and their potential ripple effects on importers. Listen in as we unravel the complexity of this issue.
The Red Sea route accounts for 12% of global trade, including 30% of the container traffic passing through the Suez Canal. Any disruption in this route affects not only oil and gas prices but also the availability and cost of a broad range of goods. The current attacks have caused a direct increase in ship insurance costs, prompting bigger shipping companies to opt for alternative routes around the Cape of Good Hope. This, in turn, not only escalates transportation costs but also significantly extends delivery times.
In this scenario, we advise importers to diversify their supply chain, considering options like rail or truck deliveries, or partial shipments with air freight.
What are the repercussions if the situation is prolonged? How can importers better prepare for these unforeseen circumstances? Tune in to this episode of China Manufacturing Decoded as we discuss the critical aspects of this multinational issue. Remember, the Sofeast Group offers an in-house logistics department to help formulate a tailored solution that meets your needs most cost-effectively, given the present situation.
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Could War In Ukraine Affect Chinese Supply Chains?
6 Phases Of The Industrial Design Process (Feat. Andy Bartlett)
BONUS: Covid Situation in China (24 Feb 2022)
Building Rapport With Suppliers - Sourcing from China (Part 5)
The Long-Term Costs of Poor Quality & Reliability (feat. Clive Greenwood & Andrew Amirnovin)
All About Industrial Design (feat. Andy Bartlett)
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Risks You Face When Skipping New Product Introduction Steps (feat. Andrew Amirnovin)
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Use final inspections to verify order quality BEFORE shipment - Sourcing from China (Part 4)
Looking Back At 2021’s Key Stories For Importers From China
The 3 Elements Your Factory Needs To Get Right For Good Manufacturing Performance (feat. Andrew Amirnovin)
6 E-commerce Trends - With A Focus On Amazon (feat. Marshall Taplits)
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Preparing For Chinese New Year 2022 Disruption
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The Importance Of Setting Up A Good Reliability Testing Plan (feat. Andrew Amirnovin)
Why Are US Logistics Under So Much Strain? + E-commerce Challenges (feat. Marshall Taplits)
How design authority leads to product safety liability (feat. Clive Greenwood & Andrew Wilson)
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