500 Ships stuck outside Shanghai as Supply Chain Issues ramp up

The communist nation is persisting with a ‘zero Covid’ policy despite the latest outbreak being the milder Omicron variant. Picture: Bloomberg

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • China’s strict Covid restrictions are causing global supply chain issues
  • Blockages in global trade have surged due to their highest level since last September. The delay has been caused mostly by coronavirus restrictions in one of the country’s busiest ports – Shanghai.
  • “The main development of March is the reappearance of shipping congestion in the ports of Asia and the North Sea,” Liberum analyst Joachim Klement told The Telegraph.
  • According to data from Bloomberg, almost 500 ships were stuck outside Shanghai.

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