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Supply Chain

Global supply chains poised for relief as ship congestion eases

Vessels waiting to load off U.S. West Coast drop to less than 10th of peak

Shipping containers are unloaded from a ship at the Port of Los Angeles-Port of Long Beach complex.   © Reuters

TOKYO/NEW YORK -- Shipping container traffic that had been severely congested during the pandemic is clearing and shipping prices are falling by a record margin in a sign that snags that had bedeviled global supply chains are finally easing.

According to Nomura Research Institute, the number of container vessels waiting offshore of the Port of Los Angeles-Long Beach has declined from more than 100 in January -- when it was at its highest -- to less than 10.

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