Sea ports, which account for around 80 percent of international traded goods, have been a major choke point of global supply chains since the onset of the COVID-19 pandemic. Pent-up demand for merchandise goods following the re-opening of economies has stretched global shipping capacity, resulting in port congestion, shipment delays, and surging freight costs. The disruptions to trade flows have raised production costs around the world, with the war in Ukraine and China’s dynamic zero-COVID strategy presenting new—albeit different—challenges. This note analyzes the supply chain issues confronting maritime transport, and their implications for the ASEAN+3 economies. Using “big” shipping data, the note builds on the authors’ earlier work on port congestion, by incorporating more recent developments in an effort to trace the root causes of the ongoing global supply chain bottlenecks and project their near-term outlook.
Analytical Notes