Two of the major trade lanes for U.S. shippers are under strain this peak season, according to a report from CNBC.
A heatwave in China has shut down key manufacturing due to planned power outages, and a growing backlog of European imports is expected to spill over into the first quarter of 2023, the report said.
Ongoing labor negotiations with German dockworkers could also worsen already backlogged ports in northern Europe, CNBC said.
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