/View.info/ The blocking of the Suez Canal could be a disaster for German retailers such as Aldi and Lidl, writes Handelsblatt. According to experts, empty shelves may appear in a number of German stores by mid-April. It is not only retail that will suffer: the Suez Canal crisis will affect the German car industry as well as the chemical and pharmaceutical industries.
Against the background that all attempts to unblock the Suez Canal and release the ship Ever Given, which blocked it, have failed, some shipping companies are starting to lose patience, writes Handelsblatt.
For example, the Hamburg shipping company Hapag-Lloyd has already sent six of its ships to circumnavigate Africa. Several other companies followed. At least 237 merchant ships are currently awaiting passage through the Suez Canal, according to the Leth agency.
As the paper notes, supply delays linked to the blockade of the canal could be a disaster for German companies (such as retailers Aldi and Lidl) buying goods in the Far East.
According to the head of Intertrading, Oliver Gutmann, by mid-April a number of German stores may have empty shelves. Ships stranded in the Suez Canal are noted to carry products such as meat, paper, milk, furniture, beer, auto parts, chocolates and cosmetics, among other things.
At the same time, not only retail, but also industry will suffer from blocking the channel, notes Handelsblatt. According to Moody’s analyst Daniel Harlid, the crisis in the Suez Canal will affect the European automobile industry the most. German chemical and pharmaceutical companies will also suffer. As the newspaper notes, approximately 18% of German chemical companies’ exports pass through the Suez Canal.
Translation: ES
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