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"Christmas crisis looms as port closure piles pressure on shipping
China closes the world's third-largest port following a Covid outbreak, leading retailers to warn of futher disruption and delays for goods
Retailers and shipping chiefs are scrambling to avoid a Christmas goods crisis after a Covid outbreak at the world’s third-biggest cargo port intensified pressure on crumbling global supply chains.
Bosses are racing to avoid higher prices and empty shelves after the closure of a terminal at Ningbo-Zhoushan port in China, which handled cargo equivalent to almost 29m containers in 2020.
The shutdown has cut capacity at the site by a quarter at the busiest time of year, as companies across the West prepare to stock up for Christmas.
It threatens to further squeeze global trade networks which are already being damaged by disruption at ports and major waterways, sending prices paid for containers soaring to record highs.
Charlotte Cook, head of trade at VesselsValue, a research firm, warned the situation suggests there will potentially be disruption for goods heading into the end-of-year period."
https://www.telegraph.co.uk/busines...s-looms-port-closure-piles-pressure-shipping/
Looks like ladymuck will get a lump of coal for Xmas, again...
China closes the world's third-largest port following a Covid outbreak, leading retailers to warn of futher disruption and delays for goods
Retailers and shipping chiefs are scrambling to avoid a Christmas goods crisis after a Covid outbreak at the world’s third-biggest cargo port intensified pressure on crumbling global supply chains.
Bosses are racing to avoid higher prices and empty shelves after the closure of a terminal at Ningbo-Zhoushan port in China, which handled cargo equivalent to almost 29m containers in 2020.
The shutdown has cut capacity at the site by a quarter at the busiest time of year, as companies across the West prepare to stock up for Christmas.
It threatens to further squeeze global trade networks which are already being damaged by disruption at ports and major waterways, sending prices paid for containers soaring to record highs.
Charlotte Cook, head of trade at VesselsValue, a research firm, warned the situation suggests there will potentially be disruption for goods heading into the end-of-year period."
https://www.telegraph.co.uk/busines...s-looms-port-closure-piles-pressure-shipping/
Looks like ladymuck will get a lump of coal for Xmas, again...
