Operations at the terminal were disrupted on a coronavirus outbreak, causing just as much, if not more, disruption to global shipping than the blockage of the Suez Canal.
Caixin report:
- Yantian International Container Terminalst one of the world's busiest container ports
- All berths at the port will be fully operational Thursday
- three berths were closed from May 21 to address an outbreak
- led to bottlenecks at other ports and added more pressure to supply chains
- sent shipping costs to record highs
- Spot rates for 40-foot containers to Los Angeles from Shanghai jumped 11% this month, according to Drewry World Container Index, while Shanghai to Rotterdam rates are up 10%.
More at the link to Caixin (may be gated)
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