Maersk expects higher transportation costs due to Shanghai Lockdown

Maersk announced on March 28 that the lockdown (urban blockade) in Shanghai, China, will have an enormous impact on freight procurement and will increase transportation costs. The company estimates that transportation services to and from Shanghai will be severely impacted by 30%. The company noted that the Shanghai warehouse closure may result in longer lead times and higher transportation costs, including detours and use of highways.