Global shipping is likely to continue to suffer from disruptions into 2023. This is mainly due to previous congestion in the Suez Canal and in Chinese ports and the shortage of containers, says the Dutch branch of credit insurer Euler Hermes.
According to director Johan Geeroms, it is still questionable whether all orders that companies have made for the holiday season in autumn for example, will arrive in the Netherlands in time.
The insurer says that the biggest problems are now coming from South China, where ports had to face restrictions in May because of Covid-19 outbreaks. And then there is also a lack of containers, according to Geeroms. ‘The empty containers are not where they should be. There is a permanent emergency situation.’
Container ship capacity
While world trade is recovering more strongly than expected, according to the credit insurer, a smoother recovery would be hampered by the time it takes to increase the number of container ships. ‘Putting a new ship into service easily takes 1.5 years,’ states Geeroms.
The disruption to supplies can cause companies to have problems with their stocks. According to Euler Hermes, this concerns Europe and Germany in particular, while the Netherlands are doing relatively well. ‘Probably thanks to our status as a trading platform and specialisations in the tech, chemical and pharmaceutical sectors,’ says Geeroms.
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