The report alerted, “Delays are likely to continue well into 2022 as COVID breakouts continue throughout supply chains and consumers continue to buy at a healthy rate.” It added the pandemic has a continual impact on global trade given shipping rates skyrocketed, and congestions plus delays have become a norm. Josh Brazil, project44’s Vice President of supply chain data insights remarked, “Blank sailings will continue well into 2022, as ports work on backlogs and consumer spending remains strong.” Brazil related this to the prevailing imbalance of empty cargo vessels at the wrong locations.

Lloyd’s List Intelligence’s findings revealed there were 82 cargo ships off the ports of Shanghai and Ningbo in China, waiting to load. Further south, near Yantian and Hong Kong, another 61 ships dwelled. On the other side of the Pacific, outside the ports of Long Beach and Los Angeles, 68 ships were waiting to unload, while 19 ships were waiting off Rotterdam and Antwerp. Some ports were reportedly compelled to work round the clock to keep up.

Another aggravating cause is China’s zero-COVID policy despite its good intentions, only adds on to the delays over the Lunar New Year. Michelle Wiese Bockmann, Markets Editor at Lloyd’s List pointed out, “Most of the delays and queues in China are a result of land-based restrictions imposed by port authorities at key exporting ports. The policy has led to a roster system for port workers, with only half working at any one time and confined to the port, while the others are off.