One of the largest importers in the United States, Home Depot has decided to charter a container ship for the first time in its history in order to manage the global shipping challenges.
Ports congestion, container shortages and Covid-19 outbreaks have caused shipping chaos globally, forcing Home Depot to groundbreaking measures.
“We have a ship that’s solely going to be ours and it’s just going to go back and forth with 100% dedicated to Home Depot,” Chief Operating Officer of the company, Ted Decker said in an interview on CNBC.
Decker pointed out the contracted ship, which will commence operations in July, is just one example of the unusual actions that Home Depot is taking as it copes with challenges that have affected the global supply chain.
Home Depot, is the world’s largest home improvement retailer and the third-largest US importer by container volumes behind Walmart and Target. The company has reported sales of US$37.5 billion for the first quarter of the fiscal year 2021.