(Bloomberg) — The Meishan terminal at China’s second-busiest port reopened Wednesday following a two-week shutdown that additional snarled already pressured delivery routes in Asia.
The terminal will begin the resumption of regular operations Wednesday, a port official mentioned at a press convention within the metropolis of Ningbo. The terminal was a few quarter of the Ningbo-Zhoushan port’s capability and was shut from Aug. 11 after a employee was discovered to be contaminated with Covid-19.
The congestion and delays on world delivery routes attributable to Covid has solely worsened this yr as Chinese language exports hit new information attributable to rising world demand. This was the second closure of a part of a port in China this yr attributable to a Covid outbreak, after the month-long shutdown of Yantian port from late Might.
With demand for vessels and containers rising this yr and corporations ramping up exports to Europe and the U.S. for the year-end vacation buying season, even a restricted closure of a part of a port is dear for each buyers and shippers. Despite the fact that the Meishan terminal was solely shut for a couple of weeks, it should seemingly take some time for the congestion to ease.
It now prices virtually $11,000 for a container to ship items from Shanghai to Los Angeles, a brand new file and greater than 220% larger than a yr in the past.
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