Banking News

Supply Chain Pressure Mounts as Shanghai Extends Lockdown

Supply Chain Pressure Mounts as Shanghai Extends Lockdown

(3 May 2022 – Global) The crippling lockdown in Shanghai has been extended due to rising cases of COVID-19, raising fears of excessive congestion amongst global port officials.

China’s largest city went into lockdown on 28 March and while the lockdown was initially intended to last ten days it has now been extended.

Although preventative measures have been implemented at China’s largest port, authorities across the world are starting to see delays in supply chains.

The Port of Hamburg cites Shanghai as one of the most important ports in global trade as they are connected by 13 liner services and four general cargo services.

“The COVID-19 outbreak in Shanghai is causing a local lockdown that is also affecting the port. We note that Shanghai is now in a state of “emergency” in managing COVID-19 transmission. The extent to which this will have an impact in Hamburg is not yet foreseeable. This will only become evident in a few weeks’ time” the Port of Hamburg said in a statement.

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.