Covid-delays at Ningbo could disrupt US$4 billion worth of trade

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Risk modelling company Russell Group has conducted an analysis indicating that a week’s delay of essential trade at Ningbo could impact US$4 billion worth of trade. The analysis was based on a week’s worth of trade from the port of Ningbo from 1 to 8 January.

Many experts are worried about any delays at Ningbo, particularly as the Chinese Lunar New Year is fast approaching, which will see factories in China close for a period in early February, while the Chinese port’s commodities exported to the US during this time period amount to US$385 million.

Suki Basi, managing director of Russell Group, said: “While the disruption to Ningbo from the new restrictions may not be severe as many experts are saying, what we wanted to show was just how integral the port is to global trade.”

Source: container-news.com