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Posts tagged “Freight Rates”

 
Yantian Port halts entry for export containers 
 
The Port of Yantian said it will stop taking in loaded containers as congestion at the export hub in Southern China deteriorates. 
 
The restriction will be implemented from 2200 hrs local time on May 25 to 2359 hrs on May 27 and will only be partly lifted afterwards for export boxes with their vessels expected to arrive at the port within the next four days. 
 
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Over half of container bookings rolled at some ports 
 
Container shipping service quality is continuing to worsen, with the number of boxes being rolled increasing. 
 
Figures from freight visibility platform project44 shows the percentage of containers missing their scheduled sailings is rising, with some carriers and ports rolling more than half their cargo in April. 
 
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Ocean freight rates and challenges rise further 
 
Ocean freight rates out of Asia have continued rising, especially to the US, as reduced capacity, high demand and equipment issues leading to “extreme capacity or equipment shortages” in North China, southeast Asia, and Taiwan. 
 
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Ex-China air freight rates continue rise 
 
Ex-China air freight prices are continuing to rise this week on the back of highly constrained air freight capacity and strong demand, leading to very high load factors. 
 
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Ex-Shanghai ocean freight rates edge up to new record highs 
 
Ex-Shanghai ocean freight rates edged up to new record highs last week due to continuing strong demand and ongoing bottlenecks and capacity constraints – exacerbated and prolonged by the knock-on effects of last month’s blockage of the Suez Canal. 
 
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Container prices surge in China and India 
 
The container shortages that have been adding to logistics logjams in Asia and beyond are showing few signs of being resolved, according to the latest data from Container xChange, an online platform for the leasing and trading of shipping containers. 
 
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Ocean freight rates set to stay elevated until 2023 
 
Ocean freight rates look set to stay elevated for another two years, as disruption continues to restrict capacity and with new vessel orders remaining relatively low until at least 2023, according to container shipping analyst Drewry. But it believes things may not be so easy for carriers after 2022, as a flurry of new orders in the last few months is set to change container shipping’s supply-demand dynamic. 
 
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No let-up expected in buoyant air cargo market 
 
High demand will continue to buoy air cargo charter activity over the next few months, consolidating the strong start to 2021, although prices may cool somewhat from their current high levels, according to a leading air freight broker. 
 
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Asia-Europe ocean freight markets show signs of slight easing 
 
Forwarding and other freight sources report some easing of ex-Asia ocean freight markets in the last three or four weeks, including reductions in pricing from China, better availability of containers at origin, and some easing of congestion in destination ports. But some believe it may be ‘the eye of the storm’, with more disruptions to come as recently blanked services come back on line. 
 
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