“The delays have already resulted in pressurizing soaring shipping prices within China due to a lack of containers and increased export demand,” said Josh Brazil, vice president of marketing at project44, a supply-chain intelligence firm. “These high shipping costs are just one factor that may contribute to an additional looming threat to global inflation.”
Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions.
A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings. One of CMA CGM’s vessels heading to China in July will also not call at the Southeast Asia trans-shipment hub.
