Displaying items by tag: Supply Fears
Global Supply Chain Fears As China Partly Shuts Major Port
One of China's biggest cargo ports was partially closed due to coronavirus, has raised fresh concerns about the impact on global trade.
Services were shut on Wednesday at a terminal at Ningbo-Zhoushan port after a worker was infected with the Delta variant of Covid-19.
Ningbo-Zhoushan in eastern China is the world's third-busiest cargo port.
The closure threatens more disruption to supply chains ahead of the key Christmas shopping season.
Closing the terminal on Meishan island until further notice will cut the port's capacity for container cargo by about a quarter.
It comes as the cost of shipping from China and South East Asia to the East coast of the US has already hit a record high, according to the Freightos Baltic global container freight index.
And some UK businesses were already feeling the pressure of much higher shipping costs.
BBC News has more here.
