development bond, health and dry scrolling, global hunger and sanctions leave russia's aviation industry on shaky ground. this is the w business. i'm an elder my la. unwelcome shipping bottlenecks have come to europe. germany's keel institute for the world economy says almost 2 percent of the global freight capacity is currently stuck at ports in germany, the netherlands and belgium and cannot be loaded or unloaded. a german dock worker strike has ratcheted up. the pressure that's forced huge container ships represented by dots here to drop anchor and wait outside t ports like hamburg. it's a different kind of traffic jam. just off the german coast, cargo ships wait to duck in hamburg around $150000.00 containers, just sit and wait on the north sea and around the world, 11 percent of global shipping floats at anchor. consumers everywhere are feeling

the effects are consumed. mama dissolved means that shelves and supermarkets and hardware stores are empty guardedly. as in thomas von of ich, runs a large logistics company. in hamburg at the moment he asked or improvised a lot, his warehouses keep filling up. but there are no ships to take the cargo on board when some a remark, when it's full, it's full just like a barrel. and the last drop then causes it to overflow. and that's how it is here. a german duck worker strike is only adding to the chaos. ships are not getting unloaded. the workers are demanding a pay raise for their non stop work during the pandemic. you know, i to hear the people here in the port gave it there all during locked down and they're still pushing themselves to the breaking point to ensure that supply chains are maintained for thomas vaughn in which the strike still means more unfulfilled deliveries. that leads to gaps in the supply chain and shortages for consumers. and the really big shipping volumes from china are still on their way. joining me now

is vincent stammer. he's from germany's keel institute for the world economy. 2 percent of global freight capacity. can you put that in context for us? is that a lot good afternoon to percent of the is quite a lot. it's the 1st time since the onset of the panic that we have seen such a large topic jam in the most b. so just to put that in to members, the dozens ships that waiting off and i was at 150000 containers at us by the long term centers. 150000 containers. when do you see this congestion easing? that is very difficult to say that the chance and the container should tend to take a long time to the so this is because these containers are up to 400 meters long ferry, up to 20000 containers. so you tend to squeeze

a container ship in a trap. so for the next few months, we'll see some delays and traffic jams. but it all depends on the next few weeks how many ships are coming from shanghai where the law has just ended. so this will depend, this will matter a lot our way there exam and and of course we've seen other similar log jones in ports around the world. what can you tell us about the economic costs of this particular maritime traffic jam? is there any way you can put a price tag on it? it is very difficult to put a plan on this particular particular traffic jam just because it's very long. so, jams have played, there was a me in the last 2 years. they have the last 2 delivery delays, all good to have managed hire transportation costs. transportation costs have risen dramatically in asia,

europe and the delivery delays have led in 2021 to $2.00 percentage on lower economic growth and we would have expected. so the delivery delays from traffic jams have actually led to the rebound germany on the me to be a little bit lower and we actually would have expected so definitely a big impact there. so the question is here, what can be done to avoid such concessions in the future? and there isn't really a short term answer. the short term answer would only be for 2 years, even more people at the ports operating the terminals and operating the warehouses and the storage area, and also the transportation from the or the train tracks and the trucks. there will be, there would have to be a concerted effort to, to, to solve the chance and long term solution would only be to invest in front factor

and hope that people around the role increase the demand for vacation and other services which will lead to lower demand physical that need to be so this is american on the will be favorable or is avoiding chance in the future. it's all connected. vincent or from germany is keel institute for the world economy. thank you very much. you're welcome. the world bank is warning that growing levels of food insecurity a reversing years of development gains in countries around the world. now the united nations international fund for agricultural development has responded by issuing its 1st sustainable development bond. that should be good news for small scale farmers around the world. small firm is around the world, have been ringing in the launch of a $100000000.00 sustainable development bond on the luxembourg stock exchange. the

bond issued by the us international fun for agricultural development in conjunction with the swedish insurance and pension fund folk, som, is aimed at mitigating the growing world food crisis. it will under pin increased investment in food security, rural development, and economic growth. this is annie, sorry for my son for you for the establishment of effect. you need them to note program as it opens up a whole new avenue for effect to finance itself and it's project chronic and acute hunger. we're on the rise even before cove at 19 reduced incomes and disrupted supply chains. the war in ukraine has made the situation worse, pushing food, fertilizer, and energy prices to record levels. rising food prices have a greater impact on people in low and middle income countries. because they spend the larger proportion of their income on food than people in high income countries

. the world bank is wanting that food prices are likely to remain high for the foreseeable future. and that's expected to push millions of additional people into acute food insecurity. now to some of the other global business stories making news, china's consumer price index roast hope. 2 point one percent made you to higher energy and food costs the number so that inflation pressures are stabilizing. while producer, producer prices have fallen to the low lowest level in more than a year to, to meet demand for steel, aluminum, and other raw materials. tesla has canceled 3 on line recruitment events for china scheduled this month. this comes after c o e law must threaten job cuts at the electric car maker saying it was overstaffed in some areas. the events were supposed to bring in new workers and sales and research. japan has e sets. corona virus face restrictions on foreign tourists,

but only for those on guided packaged tours. masks and other anti virus measures are still mandatory. tours are being accepted from $98.00 countries and region 17 to have low infection risks. the european central bank says it's preparing to raise interest rates for the 1st time in a decade to battle record high inflation. rates could rise by a quarter of a percentage point with more coming in september. it also ended a long running stimulus scheme, sanctions against russia over its war in ukraine. our intensifying aviation has been heavily affected. most western countries have closed their aerospace to russian aircraft and the u as bound aircraft sales and leasing to russia. the countries pilots aren't happy about being grounded. alexander is a russian airline. pilots and now he has a lot of time on his hence. but he won't disclose to the carrier i he worked for before russia invade that ukraine. he is angry with his country and it's

politicians who donald february. mm huh. but it's even through us, but i know to beautiful. i certainly call it a war if someone goes into a foreign country at 4 in the morning and starts shooting and killing bombing and firing rockets, what would you call that was without doubt or war? most particularly in his palupa muslin are eunice ah, fraudulent l flights were cancelled when it begun. we stay on the ground here in moscow. our wages were cut, while prices and grocery stores were climbing from familiar magazine. there is differ from the reverse. the situation has somewhat slowly come to down in the supermarkets, the empty shelves at the beginning of the war in march have been re stalked. and now inflation is less dramatic than expected to thanks to little bl, stabilization. but as a sanctions are being especially felt in sector us there to rely on west and suppliers, especially the asian industry. many leasing agreements were canceled ration,

airlines, fia, their plains could be confiscated abroad, so they are ending their international flights. i expected a lot of us such situations in the near future. of course, there is a bigger problem, especially in of asian industry and probably automobile industry. because in that are cases the import components are much more important than in other industries. and i think that we should expect some are kind of increase in unemployment, that's already affecting workers from more than 1000 to western firms that are beating russian, including gym and industrial giant siemens. 3 years ago it sealed a 1000000000 dollar deal for 13 new high speed trains called sap sun in russia. they travel several times a day between moscow and saint petersburg. siemens has cancelled their delivery and

ended its business in russia after some 170 years. the exit of foreign firms and western sanctions is weighing heavily experts worn even so many are skeptical as to whether these measurable force of the kremlin to change its course. oh, i don't think that we can change the current political station in russia and political decisions in near future by look, alexander has given up hope for better times, a hat, at least for the one sprout russian aerospace industry, which are more than just that i for many colleagues aren't just trying to get jobs abroad. they also want to leave russia entirely. in my opinion, the current situation won't change for at least another 5 years. you only get alexander also has in huge up also is a west. so he is diesel. russia, a number and finally, for a latin american countries have joined forces to create

a marine traffic corridor called nemo's highway, costa rica, panama ecuador, and columbia. want to protect marine life over thousands of kilometers in the pacific. are only local fishing of non endangered species. will be allowed marine animals moving through a network of migration routes have been vulnerable to intensive fishing in recent years. that's our shell for more checkout d, w dot com slash business, and the d. w. news to me to channel for also on facebook for me and the business team here in berlin. thanks for watching and have a great weekend with

eco, india. how can a country's economy grow in harmony with its people and the environment? when there are doers who look at the bigger picture, india, a country that faces many challenges and whose people are striving to create a sustainable future clever projects from europe and india. eco, india. in 30 minutes on d, w. o. sometimes a seed is all you need to allow the big ideas to grow. we're bringing environmental

conservation to life with learning pass like global ideas. we will show you how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing and download it now for free. ah, ah, i'm skin that i want. that's hard and in the end they send me, you're not locked up to you anymore. we will send you back. are you familiar with this reliance of the what's your story. ready ready he wasn't, i was women, especially a victims of vine and skinny labs and take part and send us your story. we are trying always to understand this new culture. so you are not a visitor,

not the guests. you want to become a citizen. in so migrants your platform for reliable information ah ah, this is news life from berlin, ukraine's a deadly daily death told. the government says it rushes, brutal. assault is killing as many as 200 ukrainian soldiers every day is calling for more weapons from the west to counter moscow's offensive.