Fresh Covid lockdowns in China will push up transport costs and cause delays, according to one of the world’s largest shipping lines.
Shanghai – a city of more than 25m and home to some of the world’s busiest sea and airports – has been plunged back into lockdown following a rise in coronavirus cases.
The move has cast a further shadow over the global economy as war rages in Ukraine, and fuelled fears over yet more disruption to supply chains.
Shipping delays: Shanghai – home to some of the world’s busiest sea and airports – has been plunged back into lockdown following a rise in coronavirus cases
Danish shipping giant Maersk warned investors that ‘trucking services in and out (of) Shanghai will be severely impacted’.
Shipping delivery times from China to Europe hit record highs having more than doubled in the space of three years.
It took 116 days to transport goods through Far-East Westbound (FEWB), one of the world’s largest trade lanes, in the week to March 20, according to data. It took just over 55 days in 2019.
