- More than 2% of all shipping capacity is at standstill outside Germany’s North Sea Port.
- Germany’s imports and exports slipped by 0.2% and 0.7% from the previous month.
Supply chain snarls persist as German ports get crowded, reports gCaptain.
Congested Germany port
According to the latest Kiel Trade Indicator, congestion has exacerbated in Bremerhaven and Hamburg, with 19 container vessels waiting to unload, up from 17 two weeks ago. About 11% of all shipped goods are stuck, the report said.
Germany’s imports and exports slipped by 0.2% and 0.7% from the previous month.
In China, as President Xi Jinping’s “Covid Zero” strategy to withstand the pandemic continues to close down some of the world’s largest manufacturing hubs, holdups outside some ports are alleviating.
According to the reports,16% fewer goods are presently being ferried than expected under normal circumstances in the Red Sea which is the most crucial sea trade route between Europe and Asia.
Primary views
Vincent Stamer, head of the Kiel Trade Indicator said that “Congestion is preventing a return to pre-pandemic levels,” and “High transportation costs are hindering a further recovery in global trade.”
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Source: gCaptain
