The economic impact of China's coronavirus lockdown is being felt across th...
BEIJING/WELLINGTON - The economic impact of China’s coronavirus lockdown is being felt across the globe, with exporters, miners and manufacturers of everything from coal and timber to meat and fruit facing delays and potential shipment cancellations.
At Gisborne’s Eastland Port on the east coast of New Zealand’s North Island, log exports to China – the port’s main source of revenue – have been halted until further notice, while forestry workers across New Zealand have been told to go home. The port is the country’s second largest log exporter. “For New Zealand exporters, the timing is unfortunate because this is a peak period for demand and good prices over the Chinese New Year,” New Zealand Rock Lobster Industry Council chief executive Mark Edwards told news portal Stuff.Compounding the impact of port congestion are the several city-wide lockdowns aimed at stopping the virus’ spread that are preventing people from getting to work.
“Our port and docks are running normally. But the real problem now is the downstream receiving ports, such as Shanghai and Ningbo,” said a logistics manager at Yingkou port in the northeastern province of Liaoning, a major iron ore and coal hub. “Taking our port as an example, for small dry boats, that is less than 200,000 tonnes, you have to wait for 2 days to come in and unload. But for bigger boats, you have to wait for longer,” he said.The knock-on effects of those delays are starting to be felt farther and farther afield.
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