Chinese New Year

Hapag-Lloyd CEO predicts early peak season for ocean shipping

Hapag-Lloyd’s annual report for 2023 and financial results for Q4 reveal exactly how challenging the ocean container market has been for the largest steamship lines. The report, which the German container ship line released Thursday, notes that Liner Shipping revenues dropped 48.5% to 17.7 billion euros ($19.2 billion) from 2022 to 2023, and earnings before interest, taxes, depreciation and amortization fell by 77.1% to 4.4 billion euros over the same period.

The ocean carrier grew its volumes...

https://www.freightwaves.com/news/hapag-lloyd-ceo-predicts-early-peak-season-for-ocean-shipping

Air cargo growth to start 2024 less than meets the eye

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Air cargo volume growth at the end of 2023 has carried over into a normally quiet shipping period...

https://www.freightwaves.com/news/air-cargo-growth-to-start-2024-less-than-meets-the-eye

Loaded and Rolling: Lunar New Year outlook; boxpocalypse now

Lunar New Year outlook with Christopher Thornycroft
(Image: FreightWaves)

In Tuesday’s episode of FreightWaves’ Loaded and Rolling show, Christopher Thornycroft, executive vice president at Redwood, joined us to talk about the Lunar New Year and what it means for freight demand. For those unaware, the Chinese Lunar New Year holiday began Jan. 22 and typically lasts two weeks. This year, it will end with the Lantern Festival on Sunday. This holiday, which involves fireworks and gift giving, can...

https://www.freightwaves.com/news/loaded-and-rolling-lunar-new-year-outlook-boxpocalypse-now

Asian market focus – ahead of Chinese New Year

Asian market focus – ahead of Chinese New Year 

Kate Marshall, Lead Investment Analyst, Hargreaves Lansdown

31 January 2022

Asian market focus – ahead of Chinese New Year

Kate Marshall, Lead Investment Analyst, Hargreaves Lansdown:

“As the Chinese year of the tiger begins, the Asian market is set to really bare its teeth. Asian markets have developed rapidly in recent decades and given the potential for further change, and for Asia to dominate more of the global economy, the region is often deemed...

https://allaboutshipping.co.uk/2022/01/31/asian-market-focus-ahead-of-chinese-new-year/

Lunar New Year impact will be minimal on imports

Chart of the Week:  Inbound Ocean Shipments Index, Inbound Ocean TEUs Index – USA  SONAR: IOSI.USA, IOTI.USA

According to the FreightWaves Inbound Ocean Shipments (IOSI) and TEUs (IOTI) indices, shippers are continuing to order goods from overseas at a record clip. According to the IOTI, which measures twenty-foot equivalent units being booked by estimated time of departure, shippers have ordered approximately 13% more TEUs than the same time last year and nearly 80% higher than January 2020...

https://www.freightwaves.com/news/lunar-new-year-impact-will-be-minimal-on-imports

Container shipping crunch sees late delivery of Chinese New Year goods

The shortage of containers and shipping slots have resulted in the delayed arrival of Chinese New Year festive goods in Southeast Asia, where retailers usually import such items from China.

Just two weeks to go before Chinese New Year on 1 February, Malaysian retailers have taken to Facebook to inform customers that festive goods will not arrive on time, because of insufficient containers and shipping slots.

One retailer wrote in Chinese: “Due to Covid-19 epidemic control measures, sailings from...

https://container-news.com/container-shipping-crunch-sees-late-delivery-of-chinese-new-year-goods/

As Ningbo slowly recovers, Covid ripples reach ports of Tianjin and Shenzhen

The port of Ningbo has largely recovered from its latest Covid disruption, but the risk of shipping delays from China has already spread to Tianjin and Shenzhen.
In an update yesterday, Maersk said: “Container gate operations have been recovered completely at Ningbo.” However, forwarders have reported severe disruption to landside operations, which are taking longer to recover.
Maersk said trucking had recovered to 75% of normal capacity, with some services remaining suspended in …

The post As...

https://theloadstar.com/as-ningbo-slowly-recovers-covid-ripples-reach-ports-of-tianjin-and-shenzhen/

Tough contract talks loom for shippers ‘gobsmacked’ by rate increases

With capacity remaining extremely tight ahead of Chinese New Year, shippers are bracing for a further wave of rate increases on container trades out of Asia.
The spot rate indices this week were virtually unchanged – the Freightos Baltic Index (FBX) Asia-North Europe component stable at $14,496 per 40ft, and its US west coast and east coast readings at $14,924 and $16,865 per 40ft, respectively.
However, The Loadstar understands that carriers are …

The post Tough contract talks loom for shippers...

https://theloadstar.com/tough-contract-talks-loom-for-shippers-gobsmacked-by-rate-increases/

COVID-19, plague, planets, conjunctions, comets, and the Chinese New Year

COVID-19, plague, planets, conjunctions, comets, and the Chinese New Year

Rhys Clift

COVID-19, PLAGUE, PLANETS, CONJUNCTIONS, COMETS, AND THE CHINESE NEW YEAR

By Rhys Clift 1

The COVID-19 pandemic, first reported in Wuhan, China towards the end of 2019 or early 2020,
has dominated the last year. It became manifest in the West at some time in January 2020.
Twelve months having since elapsed, this may be a good moment to take stock, as we approach
Chinese New Year (the Year of the Ox) on 12 February...

https://allaboutshipping.co.uk/2021/03/02/covid-19-plague-planets-conjunctions-comets-and-the-chinese-new-year/

Global supply chains choke under tsunami of freight

A big container ship stacked with boxes next to the wharf with big cranes and containers stacked on land.

With global supply chains buckling under huge order volumes and a confluence of disruptive forces, shippers should prepare for 2021 to be a perpetual peak season across all transport modes, logistics experts warn.

Competition for freight space is so fierce that companies will need to pay exorbitant premiums to get on planes and vessels and apply more flexible shipping methods to avoid delays.

And the unusual move to keep factories open during the long Chinese New Year holiday means freight...

https://www.freightwaves.com/news/global-supply-chains-choke-under-tsunami-of-freight

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.