According to IHS Markit, supply chain challenges continue to worsen as congestion levels at ports in mainland China have increased between 30-40% since March.
The issues are also made worse by shipping delays at ports in Shanghai and elsewhere in China due to continued Covid-19 lockdowns. The report says coupled with ongoing congestion at ports elsewhere in the world and low backhaul rates to Asia, container demand is far exceeding capacity.
The congestion started increasing in March and April as Covid-19 lockdown measures were reintroduced in Shanghai and extended to other parts of China.
Click here to read the full article, published by S&P Global Commodity Insights.