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Shipping delays are back as China's lockdowns ripple around the world
Shipping delays are back as China's lockdowns ripple around the world
By Laura He, CNN Business
Updated 0903 GMT (1703 HKT) May 6, 2022
Hong Kong (CNN Business)Global shipping was just starting to recover from the chaos of the pandemic. Now port congestion and delays are back and could be around for a while.
Covid lockdowns in China have wreaked havoc at Shanghai, the world's biggest container port, and are now causing problems at other major ports around the world.
Some Chinese cities, including Shanghai, have started easing Covid restrictions in recent days, but experts say that the damage has already been done, and global shipping will suffer well into the summer. That could exert even more pressure on global supply chains already reeling from Russia's invasion of Ukraine, and keep inflation running hot.
Data from Project44, which tracks global supply chains, showed that shipment delays between China and major US and European ports have quadrupled since late March, when China shut down the city of Shanghai, which has the world's busiest container port.
{snip}
By Laura He, CNN Business
Updated 0903 GMT (1703 HKT) May 6, 2022
Hong Kong (CNN Business)Global shipping was just starting to recover from the chaos of the pandemic. Now port congestion and delays are back and could be around for a while.
Covid lockdowns in China have wreaked havoc at Shanghai, the world's biggest container port, and are now causing problems at other major ports around the world.
Some Chinese cities, including Shanghai, have started easing Covid restrictions in recent days, but experts say that the damage has already been done, and global shipping will suffer well into the summer. That could exert even more pressure on global supply chains already reeling from Russia's invasion of Ukraine, and keep inflation running hot.
Data from Project44, which tracks global supply chains, showed that shipment delays between China and major US and European ports have quadrupled since late March, when China shut down the city of Shanghai, which has the world's busiest container port.
{snip}