Bottleneck in Yantian port continues to grow despite partial reopening
The shutdown in critical port Greater China Yantian has sparked a shortage of empty 40-feet containers, while the line of vessels waiting off the port is growing despite partial reopening of the western port, writes Maersk.
The recent Covid-19 outbreak in the South Chinese port Greater China Yantian continues to cause disruption on the container market for the third week straight, despite a partial reopening of the western port.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.