Home Depot on Tuesday is reportedly joining other large companies chartering private ships to circumvent the supply chain crisis.
Walmart, Costco, Target, and Ikea have already hired private vessels to ship goods to smaller ports to avoid the backlog at ports reportedly fueled by a lack of truck drivers, Business Insider reported.
It was almost started I think as a joke,” Galica said. “Let’s just charter a ship.”
While the large chartered vessels only contribute a small amount of Home Depot’s imported goods, Galica told the Journal the method helps the company maintain flexibility to keep certain items in stock. Those items include “plumbing supplies, power tools, holiday decorations, and heaters.”
“Using small boxships for transoceanic point-to-point sailings is something we’ve never seen before,” an Athens-based Capital Maritime Group chairman, Evangelos Marinakis, told the Journal.