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Congestion of container ships seen at North Sea ports — research

It is reported that overall, world trade shows a slightly positive trend in June, but significant congestion, high transportation costs and resulting supply chain woes dampen the exchange of goods

BERLIN, July 6. /TASS/. Congestion of container ships is seen in the North Sea, the Kiel Institute for the World Economy said in its Kiel Trade Indicator for June 2022.

"Congestion of container ships in the North Sea continues and is on the rise. Over 2% of global cargo capacity is at a standstill there and cannot be loaded or unloaded. The queue is also growing off Shanghai and Zhejiang, with over 4% of global cargo capacity stuck here," said Vincent Stamer, the head of the Kiel Trade Indicator.

"An end to congestion in container shipping is currently not in sight. While long queues have also been observed off Shanghai in the past, for example, this is very unusual for the North Sea. For Germany and the EU, this primarily affects overseas trade, especially with Asia, from where, for example, consumer electronics, furniture, or textiles are delivered," the expert said.

"Overall, world trade shows a slightly positive trend in June, but significant congestion, high transportation costs and resulting supply chain woes dampen the exchange of goods," Stamer noted. "For Russia, the Kiel Trade Indicator in June predicts exports just above zero (+0.3%) and a renewed decline in imports (-5.8%)," he added.