www.zerohedge.com BY TYLER DURDEN
Tankers and cargo ships are currently jammed in front of the European ports of Rotterdam and Antwerp, as Statista’s Martin Armstrong shows in the infographic below, based on a snapshot from FleetMon, an online tracking portal for ships. Further north off the mouth of the Elbe, a number of cargo ships are also moored and waiting to be allowed to enter the port.
This map illustrates how the global economy is once again suffering from delays in container shipping.
According to the “Kiel Trade Indicator” compiled by the Kiel Institute for the World Economy (IfW), almost two percent of global cargo capacity is currently stuck in the North Sea off the ports of Germany, Holland and Belgium. According to the IfW, the affected ships can neither be loaded nor unloaded.
It is all being done by design.