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 …
Despite the tariff-free deal agreed with the EU, up to £3.5bn of British exports have already had taxes applied and the US has introduced new tariffs worth $2bn on European goods, including products from the UK. British goods worth billions of pounds, accounting for about 10% of British exports to the EU, have faced tariffs …
As Yantian announces further reductions in container gate-in times, to try and alleviate congestion, shipping lines are skipping calls at Chinese ports, with the mission to improve schedule reliability and equipment availability. The partial shutdown of Yantian International Container Terminal (YICT) last week is a stark reminder of the impact that local COVID-19 outbreaks can have, with …
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 …
Last Wednesday, Switzerland announced its withdrawal from negotiations on closer ties with the EU, after failing to reach agreement on wages and immigration. The move by the Swiss government to withdraw from negotiations on a single encompassing “framework agreement” may result in some form of ‘Swexit’ as it seeks to evolve its relationship with the EU. The …
Congestion levels at the major North America container gateways is expected to continue into the summer, as container imports from Asia grew a massive 31% year on year. With 1.57m teu arriving at US ports from Asia last month, the highest level on record, the container import boom shows no sign of slowing as lockdown …
The global freight market continues to present challenging circumstances wherever you are shipping, by whatever mode you have chosen and on whatever trade lanes that you are operating. It is a global situation which has worsened over the last 12 months from famine to feast from a carrier perspective – so they can consider it has …