relevant bond to help address that growing, global hunger and sanctions leave. russia's ation industry on shaky ground. this is the w business. i'm to now do mala unwelcome shipping bottlenecks have come to europe. germany's keel institute for the world. the economy says almost 2 percent of the global freight capacity is currently stock at ports in germany, the netherlands and belgium, and cannot be loaded or unloaded a german dock workers strike has ratcheted up the pressure that's forced huge container ships represented by dots here to drop anchor and wait. outside t ports, like hamburg. it's a different kind of traffic jam. just off the german coast, cargo ships wait to duck in hamburg around $150000.00 containers. just sit and wait on the north sea and around the world. 11 percent of global shipping floats at anchor, consumers everywhere are feeling the effects of the moment that is often means that

shelves in supermarkets and hardware stores are empty. and d, as in thomas vaughn, of ich runs a large logistics company in hamburg at the moment. he asked to improvise a lot, his warehouses keep filling up, but there are no ships to take the cargo on board. when, when it's full, it's full just like a barrel and the last drop then causes it to overflow. and that's how it is here. a german duck worker strike is only adding to the chaos. ships are not getting unloaded. the workers are demanding a pay raise for their non stop work during the pandemic. you know, i to hear the people here in the port gave it. they're all doing locked down and they're still pushing themselves to the breaking point to ensure that supply chains are maintained for thomas vaughn in which the strike still means more unfulfilled deliveries. that leads to gaps in the supply chain and shortages for consumers. and the really big shipping volumes from china are still on their way. joining me now

is vincent stammer, he's from germany's keel institute for the world economy, 2 percent of global freight capacity. can you put that in context for us? is that a lot? good afternoon to percent of the is quite a lot. it's the 1st time since the onset of the panic that we have seen such a large traffic jam in the most b. so just to put that as members, it doesn't ships that waiting until after 150000 containers. it is quite a lot for german standards. 150000 containers. when do you see this congestion easing? that is very difficult to say that the chance and the container should tend to take a long time to do so. this is because these containers are up to 400 meters long, very up to 20000 containers. so you tend to squeeze

a container ship in a trap. so for the next few months, we will see some delays and traffic jams, but it will depend on the next few weeks how many ships are coming from. so i where the law has just ended. so this will depend, this will matter a lot our way, there it is. and of course we've seen other similar log jammed in ports around the world. what can you tell us about the economic costs of this particular maritime traffic jam? is there any way you can put a price tag on it? it is very difficult to put a plan on this particular particular traffic jam just because it's very long bus junk jams have played there. what kind of me in the last 2 years. they have the last 2 delivery delays, all good to have managed hire transportation costs from traffic jams have actually led to the rebound germany on me to be

a little bit lower and we actually would have expected so definitely a big impact there. so the question is here, what can be done to avoid such concessions in the future? and there isn't really a short term answer there. short term answer would only be for 2 years, even more people at the ports that operating the terminals and operating the warehouses and the storage area. and also the transportation from the or the train tracks and the trucks. there would be that would have to be a concerted effort to, to, to solve the chance and long term solution would only be to invest infrastructure and hope that people who run the wrong or increase the demand for vacation and other services which will lead to lower demand physical that need to be so this

is american on the will be favorable or is avoiding chance in the future. it's all connected. vincent stammer from germany is keel institute for the world economy. thank you very much. you're welcome. the world bank is warning that growing levels of food insecurity a reversing years of development gains in countries around the world. now the united nations international fund for agricultural development has responded by issuing its 1st sustainable development bond. that should be good news for small scale farmers around the world. small firm is around the world, have been ringing in the launch of a $100000000.00 sustainable development bond on the luxembourg stock exchange. the bond issued by the us international fun for agricultural development in conjunction with the swedish insurance and pension fund folk. some is aimed at mitigating the growing world food crisis. it will and the pin increased investment in food

security, rural development, and economic growth. this is annie, sorry to my son for you, for the establishment of a for to meet them to not program at the opens up a whole new avenue for her to finance itself and it's project chronic and acute hunger. we're on the rise even before covered 19 reduced incomes and disrupted supply chains. the war in ukraine has made the situation worse, pushing food, fertilizer, and energy prices to record levels. rising food prices have a greater impact on people in low and middle income countries because they spend a larger proportion of their income on food than people in high income countries. the world bank is wanting that food prices likely to remain high for the foreseeable future. and that's expected to push millions of additional people into acute food insecurity. now to some of the other global business stories making use

china's consumer price index, motel 2 point one percent and major to higher energy and cost the number show that inflation pressures are stabilizing. meanwhile, producer, producer prices have fallen to the low lowest level in more than a year to, to meet the demand for steel, aluminum, and other raw materials. tesla has counseled 3 online recruitment events for china scheduled this month. this comes after c o. e law must threaten job cuts at the electric car maker thing. it was overstaffed in some areas. the events were supposed to bring in new workers and sales and research. japan has said corona virus base restrictions on foreign tourists, but only for those on guided package towards math and other anti virus measures are mandatory tours are being accepted from $98.00 countries and regions to have low infection risks. the european central bank says it's preparing to raise interest

rates for the 1st time and is 2nd to battle record high inflation. rates could rise by a quarter of a percentage point with more coming in september. it also ended a long running stimulus scheme, sanctions against russia over its war in ukraine. our intensifying aviation has been heavily affected. most western countries have closed their aerospace to russian aircraft and the u as banned aircraft sales and leasing to russia. the country's pilots aren't happy about being grounded. alexander is a russian airline. pilots and now he has a lot of time on his hence. but he won't disclose the carrier he worked for before russia invaded ukraine. he is angry with his country and it's politicians who donald wizard weimer, but it's even through us. but i know to beautiful, i certainly call it a war. if someone goes into a foreign country at 4 in the morning and starts shooting and killing bombing and

firing rockets, what would you call that was without doubt or war muff. regarding his palupa muslin, idealists, ah, idealism, else lights were cancelled when it begun. we stay on the ground here in moscow. our wages were caught while prices and grocery stores were climbing. i'm here from families here magazine or has there is there for, for berlin. the situation has somewhat slowly come to down in the supermarkets, the empty shelves at the beginning of the war in march have been re stocked. and now inflation is less dramatic than expected to thanks to little bull stabilization . but as a sanctions are being especially felt in sector us there to rely on west and suppliers, especially the asian industry. many leasing agreements were cancelled ration airlines fear their planes could be confiscated abroad. so they are ending the international flights. i expected a lot of us such situations in the near future. of course there is a bigger problem,

especially in aviation industry and probably automobile industry. because in that are cases the import components are much more important than in our that industries. and i think that we should expect some are kind of increase in unemployment, that's already affecting workers from more than 1000 to western firms that, that beat in russia including german industrial giant, siemens, 3 years ago, it sealed a $1000000000.00 deal for 13 new high speed trains called sap sun in russia. they travel several times a day between moscow and saint petersburg. siemens has cancelled their delivery and ended its business in russia after some 170 years. the exit of foreign firms and western sanctions is weighing heavily experts worn even so many are skeptical as to whether these measurable force of the kremlin to change its course. oh,

i don't think that we can change the current political situation in russia and political decisions in near future by look, alexander has given up hope for better times, a hat, at least for the one sprout russian aerospace industry, which are more just shows that ard for many colleagues are just trying to get jobs abroad. they also want to leave russia entirely. in my opinion, the current situation won't change for at least another 5 years, more live bread butcher. alexander also has a new job offer in the west, so he is days in russia, a numbered and finally, for a latin american countries have joined forces to create a marine traffic corridor called nemo's highway, costa rica, panama ecuador, and columbia. want to protect marine life over thousands of kilometers in the pacific, or only local fishing of non endangered species will be allowed. marine animals

moving through a network of migration routes have been vulnerable to intensive fishing in recent years. that's our shell for more checkout d dot dot com slash business, and the dw news me to channel for also on facebook for me and the business team here in berlin. thanks for watching and have a great weekend. ah ah, with ah, to the point,

strong opinions, positions international perspective. as western sanctions take a total on russia's economy, it's looking elsewhere for markets and finding a welcome partner in china. russia's more on ukraine, could china hold the cards? join us on to the point to the point in 30 minutes on d w. a child abuse case that outrage mia mars population and pushed investigative journalists to a nurse accrual thomas. i it's so it is obvious that the child was sold for $800.00 a child slavery and me and mario the original business with adoptions in 75 minutes on

d w. do you like it? a k, then buckle up, put the pedal to the metal. let's ride a read on d. w law has no limits. no love is for everybody. love is life. i love matters and that's my new podcast. i'm evelyn char, mom and i really think we need to talk about all the topics that more divides and deny that. and this i have invited many deer and well known guests. and i would like to invite you to an end

with ah ah, this is debbie news line from bro. at sham trial. the west criticizes a pro russia court center since 3 foreign fighters to death. russia back authority say they are mercenaries, not prisoners of war. will hear from a friend of one of the fighters also on the show.