Shanghai prepares to reopen, but soaring prices, longer-term supply-chain instability expected

AS Shanghai slowly reopens following a lockdown of almost 2 months, logistics providers are bracing themselves for the prices of containers to spike — a situation that could last up to 8 weeks, with volatile container rates likely to prevail well into next year.

Ken Ngan, honorary treasurer of the Singapore Logistics Association (SLA), said: “Prices are expected to soar immediately for exports once the port resumes full operations as many containers have been waiting ... in Shanghai.