Seaport congestion may persist for several more months
Major seaports in the world are overloaded due to the pandemic and war consequences, with no sign of returning to normal in the next few months.
According to the latest report on freight risks in 2022 of Allianz Global Corporate & Specialty SE (AGCS), a subsidiary of Allianz, congestion at the world’s largest container port in Shanghai will continue. disrupting global supply chains for months to come. China maintains the “Zero Covid-19” policy, locking down many major cities and provinces to strengthen epidemic prevention, disrupting the plan to transition to a new normal in many localities. This has paralyzed most transportation and logistics activities not only in the country of billions of people but also globally.
Severe congestion at the Shanghai container port – one of the largest and busiest ports in the world. Image: Der Standard
Justus Heinrich, Head of Hull Insurance at AGCS Global, said that the Covid-19 epidemic may still have many complicated and unpredictable developments, so it cannot be resolved overnight, but will be lost. at least another one to three months to get the situation under control. As a result, ocean freight continues to experience unprecedented port congestion, putting seafarers and port personnel under enormous pressure.
Since the outbreak of the Covid-19 pandemic, the shipping industry has been hit hard by supply chain disruptions. Many businesses that depend on raw materials and accessories from China and Asian exporting countries are at risk of canceling orders, or having to accept skyrocketing freight charges.
Besides, the impact of the war in Ukraine has made the current overload at major international trading ports in the world more stressful. Allianz experts say the war has exacerbated delivery problems caused by the pandemic, congestion at ports and difficulties in recruiting ships’ crews.
Many ships have gone missing in the Black Sea, while many other container ships are stuck at ports in Ukraine. And another reason no less important, is that the oil embargo against Russia also has potential risks for shipping. Because if fuel oil becomes scarce, it will significantly affect the freight rates and journeys of many ships. Even ship owners may be forced to use other inferior fuel, leading to the risk of engine failure.
Risk consultant Anastasios Leonburg of AGCS said that it is difficult to make a forecast about the short-term prospects of shipping because it depends on the epidemic situation, the measures taken by the Chinese government, as well as the measures taken by the Chinese government. such as the war situation in Ukraine, sanctions from the EU and the response from Russia.
In addition, in Allianz’s report, the shortage of empty containers still persists due to limited sea transport capacity. That’s why major international shipping companies have ordered 7.5 million new containers.
Minh Lam (According to AGCS)
at Blogtuan.info – Source: vnexpress.net – Read the original article here
