Jerrys: DHL exec says China lockdowns will hit supply chains more than Ukraine war

The closure of Lockdowns in China has a greater impact on global shipping chains than the Ukrainian war and will be felt even after it has been removed, said the head of goods company Deutsche Post (OTC: DPSGY) DHL Group.

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"After the opening, traffic jams are likely to be in front of American and European ports," DHL's Tim Scharwath told, adding that "it will take longer than we anticipated until the trade system returns to normal."

He said problems with global service delivery would likely continue beyond the crucial Christmas shopping season until next year.

"China is a working bench in the world," Scharwath said. "All goods from high technology to fashion are affected by the development of Shanghai," he said, adding that China's speed with which it removes all borders will be significant.

Shipments usually reach Europe and North America slowly, says Scharwath, adding that boxing floods could overflow ports unless China gradually completes the closure.

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