Typhoon Barrels Towards Asia’s Largest Container Port ZeroHedge
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Asia’s largest container-shipping port is in the crosshairs of another menacing typhoon with the risk of a direct hit by mid-week that could disrupt supply chains.
The US Joint Typhoon Warning Center forecasts Typhoon Muifa will hit Shanghai and nearby Ningbo ports on China’s east coast late Wednesday into early Thursday.
Currently, Muifa is located east of Taiwan and is headed northwest with maximum wind gusts of 115 mph.
Last week, super Typhoon Hinnamnor passed by Shanghai, sending vessels out to sea to avoid damage. This storm is not as strong as Hinnamnor, but forecast models show a direct hit on the largest containerized ports in Asia could be a massive headache for China as an economic slump worsens due to zero-Covid policies shuttering multiple metro areas/industrial zones and a worsening property downturn.
There’s also the risk the typhoon could disrupt containerized shipping to the US.