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.