Bulletin

Disruption of shipping in migrant crisis costs UK $1bn

The European migration crisis is costing Britain at least $1 billion a year in shipping disruption, supply-chain experts have warned. The worst border delays in 20 years and the chaos caused by stowaways has even led to some essential goods, including medical supplies, having to be destroyed. In September, Europe experienced the highest number of border closures since the signing of the Schengen agreement in 1995, according to the latest supply-chain security index from the British Standards Institution. It warned that with the number of people displaced by war across the Middle East and Africa rising by 50% year-on-year, the costs to international ships would increase. The index highlighted how closures at Calais that delay shipments for nine hours or more add an estimated $1.2m a day to the costs of transporting goods to Britain. Shipping groups have also been hit hard by border closures in southern Germany, Serbia, Croatia and Hungary. The BSI said that shipments of food and medical supplies were the worst affected.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin

Where Next?