NASSAU, BAHAMAS — The construction industry is bracing for more supply chain disruptions as the impact of the war in Ukraine on petroleum could drive even more supply shortages.
Former Bahamian Contractors Association (BCA) president Stephen Wrinkle told Eyewitness News that the industry was slowly rebounding from the impact of COVID-19 related global supply chain shortages only to now face another ‘hit’ from the war in Ukraine.
“I think we have more cost increases coming. COVID was the first hit and now the war in Ukraine is going to create more disruption in the supply chain,” said Wrinkle.
“The cost of petroleum is being impacted and that is going to affect a lot of other things. If there is an impact on the petroleum then manufacturing and processing is going to be impacted as well; basically any item that is manufactured could become in short supply.”
Wrinkle said: “We’re going to feel it. It’s the most unfortunate timing for a war but that’s not something we can control. Things were just starting to pick up. Contracts were being signed and things were starting to move. This supply chain disruption will likely last until the end of the year.”
Wrinkle noted that continuous cost increases in the construction industry make it difficult for banks to lend and ultimately consumers will bear the brunt of escalating costs.
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