The lockdown in Shanghai continues as China maintains their zero-tolerance Covid policy. From a supply chain perspective, Shanghai is different than for example the lock-down in Yantian in 2021, as the port remains open and operational, whereas the problematic part relates to closed manufacturing sites and warehouses, as well as a reduction in available trucking capacity. We might therefore expect the situation to get worse in the coming weeks, and as such we wanted to analyse which impact the lockdown has had on blank sailings. (....)