Chinese New Year threatens to further disrupt the global supply chain as smaller shippers in China suspend services for the holidays earlier than usual
Chinese New Yearis earlier than last year, and is complicated by especially long quarantinerequirements for sailors returning to China.
- In some cases, according to Bloomberg, sailors are facing 7-week quarantines.
The potential disruption this year is exacerbated by two factors: This year, Chinese New Year falls on February 1, 2022 — a full 12 days earlier than in 2021. And, as Bloomberg reported in November, China's Covid-zero policy has sailors anticipating longer than usual quarantine periods before they can make their way back on land. In some cases, the outlet found, sailors were required to serve up to seven weeks in quarantine before being cleared to return home.
The new timeline is being especially felt in China's southern manufacturing hub, where independent shipping providers service the region. Many — which would have typically taken off around two week before Chinese New Year in a pre-pandemic climate — have already begun winding down business for the year in anticipation of the holiday.
The longer-than-usual suspension of feeder services could have a knock-on impact on the global supply chain, as cargo to and from smaller Chinese ports may surge earlier than usual.
"Some of this might be redirected onto land
- Not hard, not soft, the earliest dino eggs may have been of a 'leathery' texture to protect against damage: study
- Don't need to go big to go home: Australia is turning to sustainable 'tiny houses' to fix their housing crisis!
- Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL
- Carbon tax turns into climate fight at COP28
- Market to focus on macro data, global trends: Analysts