PUBLISHER: Container News (www.container-news.com)
The risk modelling company Russell Group has conducted an analysis indicating that a week’s delay of essential trade at Ningbo could impact US$4 billion worth of trade, including the exporting of US$236 million of integrated circuit boards and US$125 million of clothing.
The analysis was based on a week’s worth of trade from the port of Ningbo from 1 to 8 January, the time frame based on the imposing of the restrictions in Ningbo, caused by a rise in Covid-19 cases.
Entry in and out of the port along with operations of containers have been restricted due to new restrictions placed in Ningbo’s Beilun District, after an outbreak of infections at Shenzhou International, a garment factory.
“Any delays at Ningbo come at a bad time for global supply chains, which are suffering from the logjams created by the pandemic,” commented the London-based company.