US Goods Risk Delay As China's Lockdowns Heightens Shipping Port Jams: Bloomberg - Diana Shipping (NYSE:DSX), Capital Product Partners (NASDAQ:CPLP)

The key Chinese ports of Shenzhen and Hong Kong face congestion, which rose to the highest level in five months due to COVID-19 lockdowns. It could pose possible delays to goods heading to the U.S. this summer, reported Bloomberg.
Ryan Closser, a director at FourKites, states, “Shenzhen is the second-busiest port next to Shanghai, so we will expect to see significant volume shift to the other ports within China. A couple more weeks of the shutdown may not have a huge disruption, but the longer the area is shut down, the more of a ripple effect it will have.”
With infections in Shanghai still on the rise, measures to combat the virus could affect transporting goods to the world’s biggest port.
Congestion and longer waiting times have been observed at Shenzhen’s Yantian and Shekou container terminals as of Tuesday, shipping carrier CMA CGM SA stated in an advisory to customers.
Also Read: China-Europe Rail Lines, The Latest Supply-Chain Issue: Bloomberg
With the U.S. seeing container-ship congestion ease in Los Angeles and Long Beach on the West Coast, the lockdowns in China have come at an inopportune time for consumers, Bloomberg notes.
Trans-Pacific delays have shifted mainly to Asia, with China seeing 14% more vessels than a median count from April 2021. Ships in the U.S. are 6.2% less than the median.
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