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Supply Update

By ITM
SUPPLY OUT OF AUCKLAND AT ALERT LEVEL 4

A number of our key suppliers manufacturing out of Auckland have been forced to keep their manufacturing on pause while Auckland remains in Alert Level 4. Fortunately, we have been advised via press release that the government has seen the need for these suppliers and indicated they will allow the manufacture of some building materials in Auckland to support the rest of the country. This appears to be particular to Fletcher Building products (Winstone Wallboards and Tasman Insulation).

The Government is still working to outline safe working protocols required so we are yet to be notified of when these suppliers will be allowed to restart manufacturing and will be ready to take orders from our ITM stores. We will endeavour to keep you up to date on the change to Alert Level 4 operations as more information comes to light.
 

With the impending pre-Christmas rush and Chinese New Year on the horizon, freight costs continue to skyrocket, and delays continue to extend.

SUPPLY FROM OVERSEAS

With the impending pre-Christmas rush and Chinese New Year on the horizon, freight costs continue to skyrocket and delays continue to extend. With just about every container ship in the world out on the high seas, shipping lanes and ports are facing unprecedented levels of delays and congestion. Like our industry, many ports are also being impacted by labour shortages and are struggling to deal with the demand. These delays at our local ports could also see shippers redirect ships to less lucrative but logistically faster lanes.

Freight rates from China to Australia and New Zealand have soared as well but are cheaper than the rates charged to importers in North America and Europe. You may think that is a win for New Zealand, however this is one of the major challenges our importers are facing. Australia and New Zealand are now at the back of the queue as ships are placed on the more financial favourable routes. This is causing massive delays for the products and product components manufactured overseas that our industry needs.

This is not only a challenge for the building industry but the general retail industry. The world is clamouring to get stock for the Christmas and Chinese New Year period which is starting to compound the already fractured supply chain issues worldwide. All we can say on this is do your Christmas shopping early!