Singapore port congestion doubles shipment delays, causing potential supply chain crisis and higher consumer prices.

Shipment delays in Singapore's ports have more than doubled due to a shortage of ships and containers, along with port congestion. This could lead to higher consumer prices and a supply chain crisis, particularly affecting the manufacturing industry, including firms producing heavy goods like consumer electronics and electric vehicles. Port congestion has reached a global 2 million TEU mark, with Singapore becoming a congestion hotspot.