China-Russia trade imbalance leads to surplus shipping containers in Russia
Date
10/2/2023 5:10:42 AM
(MENAFN) A growing trade relationship between China and Russia is causing a surplus of shipping containers from China to accumulate at Russian rail depots, according to a report by Bloomberg on Thursday. Approximately 150,000 extra containers are currently stockpiled in these depots.
This situation has arisen because China is sending such a high volume of goods that Russia is struggling to handle the influx of shipping containers. The analysis comes from Container xChange, a trading platform located in Hamburg, Germany.
“There is significant cargo movement from China into Russia but very scarce movement back to China from Russia,” as stated in the report, Christian Roeloffs, who serves as the co-founder and CEO of Container xChange, commented on the situation. This has a “tremendously detrimental impact on the business of container logistics because of the high imbalance of demand and supply.”
Recently, the Kiel Institute for the World Economy in Germany published data indicating that, for the first time since the previous year, the amount of goods being unloaded at Russia's top three container ports was nearing the levels observed at the beginning of the Ukraine conflict in February 2022. These crucial ports are located in St. Petersburg along the Baltic Sea, Novorossiysk along the Black Sea, and Vladivostok on the Pacific coast.
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