“China has a much greater impact on supply chains than the Ukraine war,” Scharwarth told Reuters news agency. Even with relaxed corona measures in Shanghai, the problems are not over. “Because then traffic jams will probably form in front of US and European ports,” emphasized Scharwarth. There is a risk of a “container flood” in the ports because quantities are arriving unevenly. In addition, in many places there is a lack of employees and truck drivers to transport goods.
China is the “workbench of the world,” said Scharwarth. All goods from high-tech goods to fashion are affected by the development in Shanghai. Now it depends on how Shanghai is reopened. However, it will take longer than expected for the trading systems to normalize. Companies would have to continue to reckon with rising logistics costs, and consumers as a result also with rising prices for the goods.
At Deutsche Post, sales in the first quarter – also thanks to freight rates – rose by around 55 percent to 7.4 billion euros. The operating result (EBIT) increased from 216 to 601 million euros.
Source: Nachrichten
