Over 2% of global freight capacity at standstill in North Sea -Germany’s IfW institute

Over 2% of global freight capacity at standstill in North Sea -Germany’s IfW institute

BERLIN, (Reuters) - More than 2% of global freight capacity is at a standstill in the North Sea, an expert from Germany's IfW economic institute said, a "very unusual" situation for the ports there. "There is currently no end in sight to the congestion in container shipping," said IfW's Vincent Stamer, adding that traffic jams were also growing outside Chinese ports. "For Germany and the EU, this affects overseas trade in particular, especially with Asia, where consumer electronics, furniture and textiles, for example, are shipped from." Logistics companies have been struggling for months with shipping container schedules, which have been thrown into…
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Africa could be hit hard by loss of Ukrainian grain exports -IfW institute

Africa could be hit hard by loss of Ukrainian grain exports -IfW institute

HAMBURG, March 11 (Reuters) - African countries may be hit hard by any continuing halt to Ukraine’s grain exports caused by the war, a report from Germany’s Kiel Institute for the World Economy (IfW) said on Friday. “The war in Ukraine could significantly worsen the supply of cereals used in food production in African countries, making food more expensive if Ukraine ceases to be a grain supplier,” the institute said. "The country supplies large quantities of grain to North African states in particular, which other sources of supply could not replace even in the long run." Grain importers globally have been hit…
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