News Snapshot:
China shut down a key terminal in one of its biggest cargo ports after one worker tested positive for COVID-19, Chinese state media have announced. The partial closure of Ningbo-Zhoushan port will suspend all inbound and outbound services at the Meishan terminal until further notice as part of China’s “zero tolerance” approach toward COVID-19. Dawn Tiura, CEO of Sourcing Industry Group, told CNBC that China’s stance will lead to “severe” supply chain consequences. “China has a zero tolerance for COVID. One person testing positive is enough to shut down [the] port,” she said. The Zhoushan port is the third busiest...
