In 2021, the EU exported €223 billion of goods to China and imported goods worth €472 billion. China is thereby Europe’s foremost trading partner when it comes to imports of goods, of which a substantial part passes through EU ports, in particular maritime ports.
It has been an eventful nine months in 2022 for the supply chain industry. Ocean freight rates reached unprecedented highs as supply chain disruptions continued to roil the industry. Prices are finally cooling down, but still continue to be very high and are nowhere close to the 2019 levels. Will ocean freight rates continue to soften or will it rise again? What will be the impact of a looming recession, the conflict in Europe and a new set of regulations that kicks in early next year to rein in carbon emissions from ships?
