Shippers rerouted vessels as China began its most provocative military drills in decades around Taiwan, creating logistical headaches for global supply chains.
The maneuvers, announced by Beijing in the wake of US House Speaker Nancy Pelosi’s visit to Taiwan, are taking place in six different areas around the island from noon local time Thursday until Sunday. China has advised ships and aircraft not to get near regions where exercises are taking place.
Vessels are also being rerouted around the eastern side of the island, which will create delays of about three days, shipbrokers estimate. Delays of that duration aren’t uncommon, and the long-term impact may be minimal if tensions ease next week. The Taiwan Strait is a key route, with almost half of the global container fleet passing through the waterway this year. The disruption is just the latest inconvenience for supply chains, which have been reeling since the start of the pandemic and Russia’s invasion of Ukraine.
Some agricultural container cargoes from Southeast Asia to China have been postponed to load next week to avoid the risks, while some couldn’t be rescheduled and are still waiting for shipping companies’ notices, according to a Shanghai-based commodity trader.
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