Many goods transported by ship are currently stranded around the world. The proportion of goods on ships that are currently not moving is nearly twelve percent, almost as high as at peak times in 2021, Handelsblatt (Tuesday) reported, citing data from the Kiel Institute for the World Economy. (IfW). Only cargo ships that are not being handled in ports are registered.
About seven percent before the pandemic
Most of the affected ships are therefore dammed up in front of the harbours. Before the corona pandemic in 2019, the figure hovered around seven percent, according to IfW data.
According to the report, experts see the development primarily as a result of China’s strict pandemic policy – as was the case in 2021. At the time, closed ports in China led to bottlenecks and congestion in maritime traffic. The maximum value for goods on stationary ships outside ports was around 14% in 2021.
IfW project manager Vincent Stamer said of the current situation: “If multiple supply chains were to collapse again due to China’s Covid policy, the damage to the global economy would be considerable.”
IfW’s analysis of ship movements in Chinese ports also showed that exports from the port of Shanghai have fallen in recent days and are about 30% below the development of other ports in China. Due to new corona infections, Shanghai has been virtually isolated since late March, and the city is virtually closed.