The maritime situation is deteriorating in Guangdong. Massive clusters of ships awaiting berths at Hong Kong, Yantian, Nansha, Huangpu, and Shekou. If you are sourcing product from that region for Christmas sales (electronics, appliances, toys, garments), well, good luck. The situation is at Yantian, Hong Kong is very bad. 28-30% of all PRC exports comes from just a few ports in South China. The impact of this port closure will be more disruptive to global trade over the next 3-6 months than the Suez Canal blockage was.
These delays are only going to worsen the scarcity of shipping containers, which have surged in price as global goods demand soared as the world lifts COVID restrictions. The rate for each 40-ft container from China to Europe has jumped over 500% in a year from $1,700 to $11,000.
Each blue dot is a container vessel, waiting to load and/or unload goods at one of China’s busiest manufacturing hubs:
Congestion levels appear to be getting even worse as neighboring ports get overwhelmed by the redirected traffic from Yantian. This image from 10:45am Singapore time on June 12.
About the Author
Trump was right. We should reduce our dependence on China and produce our goods in the USA. All members of Congress and their family members should be audited to determine their personal financial interests in China. Are we being sold down the road by our own Government?
Hey Patriot, it’s called Capitalism. If your cheap ass would stop buying at Harbor Freight and Walmart and the like maybe US manufacturing would come back
Sorry Buck, I don’t buy things that are not made in America. I care about quality. Maybe your liberal guilt is speaking?
What, every retort to an opinion of yours must come from a liberal? Not a liberal, just understand how Capitalism works which obviously you don’t – it’s all about profit and margins.
Here is something to chew, on provide universal healthcare and watch US manufacturing come back. Health care is one of the biggest bites out of your paycheck and a large reducer of profits.
So, sooper jeeneeus you propose further government involvement in a system made unworkable by….
Government involvement?
Yup, liberal.
Guess what, SJ? A corporation includes ALL costs in the price of a good or service. INCLUDING healthcare.
Increase the taxes to pay for socialized healthcare, THAT STILL FACTORS INTO THE PRICE.
SMDH
You got a problem with Patriots?
Ostracize and shun your democrat neighbors. Start today.
Here’s a novel idea: manufacture more stuff here. Then the only problem is the trucker shortage.