关税战叠加低水位，欧洲港口遭遇疫情以来最严重拥堵！

Core Insights - Trump's fluctuating tariff policies are causing significant supply chain congestion in European ports, the worst since the pandemic began, particularly in Rotterdam, Antwerp, and Hamburg, expected to last for several months [1] - The congestion is exacerbated by low water levels in the Rhine River due to spring drought, limiting barge loading capacity and impacting global logistics [1] Group 1: Port Congestion - The current congestion is reported as the most severe since the pandemic, with barges in Antwerp waiting an average of 66 hours and in Rotterdam 77 hours to load containers [2] - In Antwerp, unloading times for vessels are delayed by 3 to 5 days compared to scheduled times, affecting the timely collection of containers by barges [2] Group 2: Shift in Trade Flows - Increased imports from Asia to Europe are noted, as high U.S. tariffs have redirected goods to other regions, with a reported 7% increase in container volumes from Asia to Europe [2] - European ports are absorbing a significant share of goods that would typically flow to the U.S. market, indicating a strategic shift by Asian exporters [2] Group 3: Industry Response - Terminal operators are urgently hiring new staff and purchasing equipment to alleviate the pressure caused by congestion [3] - Some industry experts express skepticism about the ease of resolving congestion issues, indicating that it may take years of capacity investment to fully address the problems [3]