Date: Friday, January 21, 2022
Source: Splash 247
With containers overflowing in and out of its borders, the operators of Yantian terminal, the largest port facility in Shenzhen, have from today ruled that full containers can only be trucked in four days before vessels are due to berth.
Shenzhen, the world’s fourth largest container port, is suffering from severe congestion just ahead of the Lunar New Year holidays, exacerbated by recent Covid-19 outbreaks that have seen parts of the city forced into lockdown. Ships arriving at Yantian are currently having to wait around one week for a berth space.
According to Kuehne+Nagel’s global congestion map, as of Wednesday, Shenzhen was the third most congested port complex in the world after Los Angeles and Long Beach in southern California and Shanghai and Ningbo on China’s east coast.
New analysis published today by British risk management firm Russell Group suggests port congestion at Shanghai is costing an estimated $4.5bn a week in lost trade.