The Yantian terminal in China has returned to operation, but analysts predict it will take over 80 days to clear the backlog of 700,000 containers. The queue of vessels remains significant, contributing to ongoing global supply chain disruptions.
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The Yantian terminal in China has returned to operation, but analysts predict it will take over 80 days to clear the backlog of 700,000 containers. The queue of vessels remains significant, contributing to ongoing global supply chain disruptions.
China Shipping Crisis, Yantian Port Shutdown and Container Shortages
A major COVID-19 outbreak in China has led to the shutdown of the Yantian shipping port, causing a massive backlog of cargo vessels. This disruption threatens global supply chains, as the port handles a significant percentage of exports to the U.S. and Europe. The crisis is exacerbated by a global shortage of empty shipping containers, which has driven up freight rates significantly.