ningbo that is closed down.ne of the ports in the peninsula. most of the port, somewhere around 80% is running at normal capacity one terminal has been closed all vessels calling to the port have been packbacked up. that is causing disruption >> it seems because it is just that one specific port, it is not going to have huge global ramifications. how will this fit into the broader context of rising shipping rates with the bottom necks and events that happened this year that propelled freight higher >> the problem is that an issue like this, had it happened in the last ten years at anytime, it would have been a problem or annoyance. the ship would call with the boxes waiting to get out for the rest of the system, it would not be a problem w we had ten years of oversfupply. the entire system has been stretched. we have no slack that means smaller incidents are becoming bigger. ningbo is an important hub if the entire port was closed down, which cause ace risk with the one case that would be disastrous we had one c

now, factor in ningbo, the third largest port as you say and the terminal alone is twice the size oft port and given the state of the market and the backlog, we would oprah forges the ningbo as part of the solution are not part of the problem — we would to see ningbo as part of the solution. we need this backlog cleared so that prices can lower. {flare we need this backlog cleared so that prices can lower.— that prices can lower. give us a sense of— that prices can lower. give us a sense of the _ that prices can lower. give us a sense of the impact - that prices can lower. give us a sense of the impact on - a sense of the impact on retailers because many what she may think ok, the crystal meth, the christmas decorations may be more expensive but in the light of —— the crystal balls, the christmas decorations, may be more expensive but can you summarise why? the interesting thin . summarise why? the interesting thing about _ summarise why? the interesting thing about supply _ summarise why? the interesting thing about supply chains - summarise why? the interesting thing about supply ch

problems throughout the world but particular in china with closure of this large marine terminal in ningboth of shanghai. these are container ships, steamship lines, diverting ships from port, trying to figure out ways to move their containers to other ports. there is no good answer. we are hearing a possible reopening of this particular terminal with sometime within the next couple of weeks, unofficially. it's -- this just adds to the craziness. romaine: can you give us some insight into the option the some of the folks are taking to get their stuff out and get it to the u.s. or wherever the stuff is going? if they are not using the containers and they moved to bulk, how does that change the dynamic? anton: good question. the problem is not all cargos are conducive to switching to bulk. let's say you're dealing with delicate consumer goods, not something necessarily you will want to stack ten high in a bulk carrier. however, if you're dealing with metals or copper or feel goods that could potentially work in bulk, we are seeing a rush towards trying to change those cargoes over to get ont

liz: 37, you are pushing at this point, is there any end in sight to what's going on in ningbo, theyn of the container area because of one single covid case, any visibility as to when it is going to free up? >> the covid-19 ongoing health pandemic is a challenge and as you've indicated they close down a major terminal as a result of one particular worker testing positive. this is going to be an ongoing dynamic until we have a global perspective, a good handle on the covid-19, i don't for see in into this anytime soon unfortunately. liz: your port mostly except a lot of finished goods, yet furniture coming in, parts, electronics, plastics, petroleum were seeing search pricing for a lot of these companies, who is waiting on cargo ships that are idling right now is is the big-box retailers, grocers, can you give us a sense. >> it's all of above the groceries, the box retailers, consumers and again, unfortunately there is not a sector that is not impacted. liz: while, do you get a lot of complaints, i know you can't control the cost but were hearing from ethan allen in his furniture he's

china wants to be strict about something, they are incredibly strict for example, at the port of ningboe was one case of a covid case and the 1500 people were quarantined that just continues. it creates a lot of disruptions. so there is a concern about that and as of right now, people think that the government is going to continue to roll out some measures to support different sectors to try to kind of manage the economy properly, but not necessarily go all out with any large stimulus just because they also are well aware of the dangers of debt and are at this point trying to manage a lot of those debt issues as well >> eunice, thank you eunice yoon in beijing >>> coming up, apple is reportedly the latest major company to push back its return to work date thanks to the rise of the delta variant much more on the return to work next as we head to break here's a look at yesterday's s&p 500 winners and losers hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene