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Yantian Port congestion has echoes of Suez

Virus-led port congestion in southern China is taking a toll on the country’s export capacity amid warnings the supply chain snarl-up is comparable to the blockage of the Suez Canal

Supply chain chaos at Chinese ports, the politics of China's pitch for a Hamburg terminal stake, and why shipping may not be able to swerve the new push for a global corporation tax

GROWING box congestion at China’s Yantian Port, which halted some operations after positive Covid-19 tests, has shown how local disruptions are having global ramifications, so tight is the present squeeze on shipping capacity.

The snarl-up has crippled growth in throughput at major Chinese ports and there are warnings its effects will be felt around the world, with cargo delays comparable to the more dramatic Suez Canal blockage.

Equipment shortages mean shippers should expect more blanked sailings.

Meanwhile, China’s infrastructure expansion drive continues undimmed, with Cosco Shipping’s port arm pitching for a stake in a Hamburg container terminal. Editor Richard Meade says the move is down to pragmatism, not politics.

Green tie-ups: It’s another big week in companies partnering for green R&D projects: Trafigura and Yara, to develop ammonia as fuel; Japan’s Namura Shipbuilding and NS United Kaiun Kaisha, for a wind-assisted capesize bulker; Shipbroker McQuilling and emissions trader Vertis, on carbon offsets for shipping, to list a few.

Death and soon, taxes: The US-backed push for a global corporation tax could force larger shipping companies to pay the same tax as other industries for the first time ever, experts have warned.

Nautilus International chief Mark Dickinson reckons such a deal would “help end the 70-year-plus nightmare that is the corrosive flags of convenience system”.

The Lloyd’s List View: Pleading for exemptions from world leaders is unlikely to work. It’s time for shipping to scrap secretive accounting practices that contribute to its shady reputation.

Listen Out: On the podcast, sustainability editor Anastassios Adamopoulos on what to expect from the IMO’s Marine Environment Protection Committee meeting, which kicks off from today.

We’ll have daily coverage of MEPC 76 through the coming week. See also: the UK’s COP26 climate head calling for more zero-emissions pledges ahead of the big UN summit.

Don’t miss: Michelle Wiese Bockmann’s scrapping investigation finds end-of-life flag registries are used for one in six ships – but little evidence European owners are using them to bypass tougher recycling laws.

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