While some container shipping lines will continue calling at Yantian, other carriers have already diverted ships as the port’s operations have deteriorated, with Maersk warning that delays are now expected to last two weeks. The Yantian congestion is yet another disruption to global shipping still reeling from the impact of the Suez Canal blocking in …
Current supply and demand dynamics will maintain elevated prices through peak season and into 2022, with analysts predicting systemic market changes that will keep rates at an elevated level in the long term. The rate of air freight rate growth has slowed on many routes, since peaking at the beginning of May, but rates remain …
Monitored ocean Freight all Kinds (FAK) rates rose yet again this week from their already record-high levels, across all major East-West trades, up 518% on their level a year ago into Northern Europe and expected to remain on the higher side due to port congestion, huge demand and lack of equipment availability. Shippers from Asia are bracing for imminent General Rate Increases …
The mass departure of EU lorry drivers from the UK since Brexit has left hauliers facing an acute staff shortage of qualified drivers, that has been compounded by a backlog of driving tests due to the pandemic and is a looming crisis for the UK transport industry, with an impact on container movements. While the road haulage …
If this was a typical year, we’d be approaching the start of the peak season for sea freight and the shipping lines would be preparing a round of general rate increases (GRI), but this year is anything but typical and even with demand soaring way beyond any typical peak period and freight rates already at …
Shippers from Asia to Europe continue to see increases in container spot rates, as cargo-rolling become ever more commonplace and carriers begin to cancel sailings in an effort to restore schedule reliability. Space on vessels from Asia is effectively ‘sold out’ for May and June, with a succession of GRIs being introduced by shipping lines, …
Asia’s economic bounce back continues to show strong growth, driven by new manufacturing orders and the ensuing increase in export sales, which is putting more pressure on supply chains, leading to increased lead times, shortages of aircraft space and rising prices. Purchasing managers data is showing the largest price increases in a decade, in the …
Container shipping rates from China to the US and Europe continue to rise, as reduced capacity, high consumer demand and equipment shortages across China and Southeast Asia escalate. While container freight rate increases on the transpacific trade from Asia have outstripped increases to Northern Europe over the last year – almost double on some routes – the rate level increases are driven …
China’s exports have surged, driven by post-lockdown demand from the US and Europe, while factory gate pricing has risen at the steepest rate for more than three years. China’s economy grew 18.3% in the first quarter of 2021 compared to the same quarter in 2020, in its biggest GDP jump since China started keeping records in …
Finding an empty container in Shanghai, Ningbo, Yantian or any other major Chinese gateway port, is becoming a major problem, yet again, as Asian container availability is tightening, and purchase and rental costs are soaring, and equipment will become even scarcer as demand builds through May into the peak season. Continuing and sustained demand for …