Retailers Pay More To Fly Everything From Bikes To Hot Tubs From China As U.S. Port Backup Delays Deliveries

Companies such as Peloton are facing a costly logistical nightmare as record congestion at ports around the world cause delays. Global shipping data from MarineTraffic showed a ship with 197 containers of Peloton bikes and merchandise circled at anchor just outside the Port of Los Angeles between Dec. 22 and Jan. 2., when it was allowed to dock — after Christmas. “The ship, and Peloton’s expected supply time, lost 12 days due to this while their product was nearly within swimming distance of shore,” Import Genius trade data analyst William George said. “This is a crazy illustration of the problem Peloton and other U.S. importers are struggling with.” Read more at CNBC.