The precariousness of the worldwide road to recovery has hit the headlines once again with the closure of a terminal at one of the world’s busiest ports – Ningbo-Zhoushan.
Operations have been suspended following a case of Covid-19 being detected. The closure will bring on more disruption to supply chains, at a time when the cost of shipping out of China and Southeast Asia has hit record highs.
A similar situation unfolded during June, when an outbreak forced Yantian port to shut down. The backlog of containers and ships resulting from the closures will have ripple effects for many months to come.
Already the market is having to navigate soaring demand and scarce transport capacities and this is the latest blow in a series of bottlenecks that continue to cause enormous strain for the supply chain.