This new report from Interos looks at how China’s zero-COVID policy has impacted the global economy.
Key findings include:
- Despite 76% of cargo being moved from ports by truckers, the road freight in China is
operating at 20% capacity because of zero-Covid policies and binding government restrictions
- Vessels waiting outside of Chinese ports accounts for about 27.7% of all vessels waiting outside ports globally. The number of vessels outside Chinese ports increased by 195% since
February 2022, almost doubling its congestion in the span of two months.
- Road freight in China is an extremely fragmented and inefficient means of transporting goods
as 90% of truckers operate individually and are subject to a myriad of restrictions that impose
severe cost, logistical, and operational limitations.
- Rail freight in China faces a shortage of shipping containers and present vulnerabilities to severe Covid restrictions, geopolitics, and trade fluctuations.