2/2
© Bloomberg. Containers sit stacked next to gantry cranes in this aerial photograph taken above the Port of Ningbo-Zhoushan in Ningbo, China, on Wednesday, Oct. 31, 2018. President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key U.S. officials to begin drafting potential terms, according to four people familiar with the matter. Photographer: Qilai Shen/Bloomberg
2/2
(Bloomberg) — China’s Ningbo-Zhoushan container port, the world’s third-busiest, remained partially closed for a sixth day Monday, amid ongoing concern over whether the shutdown will disrupt trade from the region longer term.
The port hasn’t published any updates on its operations since Wednesday, when it halted all inbound and outbound container services at its Meishan terminal after one employee tested positive for Covid-19. Consultant GardaWorld estimated the terminal accounted for about 25% of container cargo through the port, though Ningbo-Zhoushan had said it would redirect ships to other terminals and adjust operating hours at other docks.
An employee at the port’s media center said they had no new information to share when contacted by Bloomberg News on Monday. No new infections have been reported at the port since the initial case.
Shipping firm Yang Ming Marine Transport Corp. warned clients of potential “port congestion” due to the partial closure in an advisory on Monday, while Orient Overseas Container Line Ltd. reminded customers to check terminals before arranging container gain-in at Ningbo in a Saturday notice. Maersk said Friday it had an AC6 vessel at the Meishan terminal, and that all its AC6 ships will omit Ningbo in August.
Since bringing the initial coronavirus outbreak in Wuhan under control last year, China has taken a zero-tolerance approach to Covid, taking strict measures to quash even single cases, especially at strategic locations like ports.
China’s Covid-Zero Strategy Risks Leaving It Isolated for Years
The latest port disruption followed the closure for about a month of Shenzhen’s Yantian port in late May after an outbreak among port staff. It’s also stoking fears that ports around the world could face similar outbreaks soon given the spread of the highly-infectious delta variant, potentially triggering the sorts of curbs and disruptions that impacted global shipping last year.
©2021 Bloomberg L.P.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
