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Zero Hedge — Maersk Warns South China Port Congestion ‘More Significant Disruption’ Than Suez Canal Closure

Summary:
Ditlev Blicher, Maersk Asia Pacific Managing Director, was quoted by Seatrade Maritime, who said Yantian port is operating at a 40% capacity, and "We're expecting that to continue for the next month with significant delays for vessels to be able to berth."A recent surge in COVID-19 infections in the port area and prevention and restriction measures put in place by local authorities is the primary reason for the lack of capacity at the port...Zero HedgeMaersk Warns South China Port Congestion 'More Significant Disruption' Than Suez Canal ClosureTyler Durden

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Ditlev Blicher, Maersk Asia Pacific Managing Director, was quoted by Seatrade Maritime, who said Yantian port is operating at a 40% capacity, and "We're expecting that to continue for the next month with significant delays for vessels to be able to berth."

A recent surge in COVID-19 infections in the port area and prevention and restriction measures put in place by local authorities is the primary reason for the lack of capacity at the port...

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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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