Covid-19 outbreaks and factory closures in China for the Lunar New Year holiday are causing disruption to global shipping.
Hamberg, Germany-based Container xChange, a tech firm working in the shipping sector, said the results of its most-recent survey of around 2,300 members of the supply chain industry confirmed the dual challenges of Chinese New Year and Covid-19 have impacted global supply chains.
“There are added and new complexities ahead, coupled with Chinese New Year, where at one end we see China coping with the Covid infections, and on the other end we see a continued dip in demand," Container xChange CEO and cofounder Christian Roeloffs said in a press release. "We cannot see Chinese New Year in isolation but in combination with all these challenges. The biggest concern is the reduced production and port capacity due to the infections in China. Also, the rates are low, capacity management is still a top priority for carriers, and blank sailings are prominent. Amidst this, in the coming weeks, we foresee prolonged factory closures and bearish market conditions."
The survey revealed a 73 percent increase in supply chain professionals who expect a ...
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