German fishery has been caught in an escalating economic squeeze as surging marine fuel costs, driven by ongoing geopolitical conflicts in the Middle East and energy market volatility, threaten to bankrupt fleets.
As the U.S.-Israeli war against Iran continues, the global energy market is going through wild fluctuation, influencing various industries, including fishery.
Hamburg, an important port city in Germany, is also seeing its fishery and seafood production affected due to the cost hike in diesel, transportation and cold chain operation.
Fuel cost takes a big part of fishery production. For fishing boats which need to work offshore for a long time, higher fuel price means more costs in each voyage.
"The prices of raw materials have been rising these days. For example, I used to spend 50 euros for gas every day, but now it costs me 100 euros. The impact of the conflict is everywhere, even on fishermen, as they will need gas to go fishing. In the end, the cost of products is up. That's the case and it is not good. War is the worst thing that human can create," said a local fisherman.
Meanwhile, the operation of cold chain storage and logistics is also facing pressure from the higher fuel prices, as seafood has to be delivered to other places in a cold temperature. From equipment to transportation, costs are piling up.
"We're definitely feeling the impacts of the rising cost, from procurement, to fueling our vehicles, and of course, the labor cost. Employees think their living cost has increased and they wish to have higher wages. So, whether on the procurement side or facing customers, we have truly felt the impacts," said another local fisherman.
Some local vendors worry that the climbing energy cost will squeeze their profit margins if the conflict continues, which will make their business even more struggling.
German fishery caught in escalating economic squeeze as marine fuel costs threaten to bankrupt fleets
The first shipment of exhibits for the 4th China International Supply Chain Expo (CISCE) successfully cleared customs in Beijing, ready for the upcoming global trade event.
The shipment arrived from France, containing 1:20-scale aircraft models of Airbus A220 and A320 commercial jets, alongside promotional product literature.
The cargo, valued at approximately 150,000 yuan (about 22,170 U.S. dollars), went through customs clearance last Friday via the "integrated customs clearance" and the "ATA carnet" system -- an international customs document that permits temporary, duty-free import.
"Focusing on key logistics stages such as warehousing and temporary storage of exhibits, we have established a dedicated storage zone for CISCE exhibits. This ensures that the goods remain safe and secure, without damages incurred when in storage," said Wei Xiaohe, an officer from Beijing Capital Airport Customs.
The upcoming expo is scheduled to run from June 22 to 26 in Chinese capital Beijing, and 676 domestic and international players in the supply chain, specialized firms, and industry institutions from 85 countries, regions, and international organizations have already confirmed the participation.
Foreign exhibitors account for 36.5 percent of total participants, with Fortune Global 500 companies and industry-leading enterprises making up over 65 percent of the roster.
To facilitate smoother operations for global firms, Beijing Customs recently rolled out 14 supportive measures. Key policies include allowing on-site sampling and trials for eligible pre-packaged food and cosmetics, as well as tax exemptions for certain qualifying consumable exhibits.
"From January to May, Beijing Customs oversaw 46 inbound and outbound exhibitions, a 48 percent increase year on year. The total value of imports and exports overseen by Beijing Customs stood at approximately 24.2 billion yuan (about 3.68 billion U.S. dollars), up 121 percent year on year," said Yang Fan, deputy chief of the first exhibits supervision section at Beijing Convention and Exhibition Center Customs.
As the world's first national-level exhibition focusing on supply chains, the CISCE is an internationally shared public product.
First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the China Council for the Promotion of International Trade.
First exhibits for 4th China International Supply Chain Expo complete customs clearance
