Shanghai has reportedly eased the lockdown for 43% of its housing complexes, according to media reports. During a briefing, deputy secretary general of the municipal government declared that residential compounds with no virus infections for two weeks will have their lockdowns lifted. However, while some housing complexes will see their lockdowns eased, officials will reimpose lockdowns if even a single new case is reported. In addition, according to local government data, Shanghai reported a daily infection rate of 26,087 on Sunday, while 95% of the cases occurring among those already in isolation.

Shanghai’s strict Covid measures have led vessels to pile up at Shanghai’s port. According to our most recent AIS data, dry bulk congestion outside of Shanghai’s port has increased to 248 vessels, up from 205 at the beginning of March. As the global dry bulk fleet currently stands at 12,790, dry bulk vessels piled up outside of Shanghai’s port account for 2% of the global dry bulk fleet. According to news reports, congestion has been building as shortage of vehicles causes imports to not be cleared. While the recent easing might indicate a progression out of the current lockdown, the high infection rates are still a concern going forward as the government continues to depend on a zero-Covid policy.