The shipping industry is worth trillions of dollars, carrying 90% of all globally traded goods, according to OECD data. But as it nears its busiest time of the year, the forecast doesn’t look good.
Having weathered the storms of Covid-19 and the Ever Given blockage in the Suez Canal, shipping has now been impacted by an unprecedented heatwave in China, which has caused disruption to vital logistical routes. At the UK port of Felixstowe – which handles almost half of container freight entering the UK – ships have been unable to dock due to worker strikes.
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