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Posts tagged “China Exports”

 
Box port delays causing service cancellations 
 
Major global container lines are being forced to cancel significant numbers of east-west services due to exceptionally long delays to vessels caused by congestion in Asian and North American ports. 
 
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China reaffirms attempt to cap box shipping rates 
 
China said it is planning to release measures to tackle the thorny supply issues for shippers in the container shipping market, raising concerns about another round of clampdowns on freight rates. 
 
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Ocean freight issues adding to squeeze on air cargo capacity 
 
Shortages of containers and capacity for ex-China exports plus vessel schedule disruption are continuing to drive modal shift to air, adding to a squeeze on air freight capacity already stretched by buoyant demand. 
 
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Record Asia-Europe ocean freight rates rise further 
 
As prices soar to multiple times their normal level, further hikes are expected later this month, with equipment shortages, port delays and lack of capacity set to continue right up to lunar new year in mid-February
 
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China to tighten inspection on box shipping carriers’ pricing practices 
 
China’s Ministry of Transport has defended carriers’ reasoning when responding to a shipper’s complaint about skyrocketing container shipping costs, but has said it will tighten its scrutiny on carriers’ pricing practices. 
 
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CNY 2021 blank sailings currently ‘far below previous years’ 
 
As strong ocean freight demand continues on the major trades, container lines look set to blank far fewer sailings around Chinese New Year (CNY) than in previous years with less than six weeks left before the usual annual shutdown of China’s manufacturing capacity and the normally associated slowdown of the ocean logistics systems that support it. 
 
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Container shortages exacerbated by slow turnaround times 
 
Container availability in China remains at a record low as the length of time equipment is sitting in depots is increasing. 
 
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Asia-Europe container freight spot rates hit new highs 
 
Container spot freight rates from Asia to northern Europe have broken the $2,000 per teu level for the first time in a decade after rising by more than a quarter this week. 
 
The Shanghai Containerised Freight Index reported rates of $2,091 per teu on the Asia-northern Europe trade. The last time rates were this high was during the “dead cat bounce” that followed the global financial crisis, when rates topped £2,100 per teu in May 2010. 
 
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Shippers switching to air freight to escape sea freight hell 
 
With sea freight rates reaching some of the highest levels ever seen, along with equipment shortages, late vessels and still no guarantee of uplift, some shippers are starting to switch to air, driving up rates on a mode that had been enjoying some stability. 
 
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