Chinese port closure increases global shipping bottleneck

The global shipping industry is facing a severe backlog, exacerbated by a ship blockage in the Suez Canal and COVID-19 impacts on port operations. Shipping costs have skyrocketed, affecting the ability of retailers to restock for the Christmas season. Ports, especially in China, are struggling to manage container handling, with Yentian Port being notably affected. The situation may take months to resolve, impacting global trade and retail prices.

What event is compared to the current global shipping backlog?

• A ship stuck in the English Channel

• A ship stuck in the Suez Canal

• A ship stuck in the Panama Canal

• A ship stuck in the Strait of Gibraltar

How much more expensive is it to ship a container from Rotterdam to Shanghai compared to a year ago?

• Three times more

• Five times more

• Ten times more

• Seven times more

What is a potential consequence of the shipping crisis for the Christmas season?

• Increased availability of goods

• Lower prices for products

• Shortages and higher prices

• Early restocking of warehouses

Which port is highlighted as facing the worst case of operational challenges?

• Shanghai Port

• Yentian Port

• Los Angeles Port

• Rotterdam Port

What is the expected timeline for Yentian Port to return to normal operations?

• By the end of June

• By the end of July

• By the end of August

• By the end of May