Chinese New Year

Container congestion chaos as Yantian pushes deadlines pre-new year holiday

Severe congestion has hit roads leading to the southern Chinese container gateway of Yantian, as exporters desperately try to clear a backlog of orders before the new year holiday begins at the end of the week. 
And it appears forwarders and shippers trying to get shipments out of the Pearl River Delta could find themselves caught in classic Catch-22 situation after the port announced it was bringing forward the cut-off time for gating-in export containers.
Yantian now requires a …

The post Conta...

https://theloadstar.com/container-congestion-chaos-as-yantian-pushes-deadlines-pre-new-year-holiday/

Freightos Baltic Global Container Index Climbed

The Freightos Baltic Global Container Index (FBX) climbed 21% this month to an FBX-high of $4,077/FEU, a 162% increase annually, says an article published in Baltice Xchange.

Pandemic Still Raging

With the pandemic still raging and consumers still spending on goods instead of services that require leaving the house, demand for ocean freight continued to surge through the normal post-holiday lull and straight toward Chinese New Year in February.

The persistence of peak level demand and volumes –...

https://mfame.guru/freightos-baltic-global-container-index-climbed/

Secondhand Bulker Prices Firm Despite Softening Spot Rates

Secondhand bulk carrier prices are firming despite a week of softening spot rates, says an article published in Splash 247. 

Smaller tonnage purchase

Despite softening spot rates, secondhand bulk carrier prices are firming with buying interest increasingly focused on smaller tonnage.

Clarksons Research noted in its most recent weekly report that activity is primarily in the kamsarmax down to the panamax sectors.

Sale price in December

Prices have leapt since December. A notable sale that illustrates...

https://mfame.guru/secondhand-bulker-prices-firm-despite-softening-spot-rates/

Commentary: Breaking the backbone of trade

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

Just when the congestion at the ports couldn’t get any worse, China’s latest maritime measure to control the spread of the coronavirus ahead of the Lunar New Year is going to add to the clog of containers. The proof is in the flow of containers.

At the beginning of December, U.S. exporters like Scot Courtright, owner of Courtright Enterprises Inc. in Moses Lake,...

https://www.freightwaves.com/news/commentary-breaking-the-backbone-of-trade

Carriers Gone Too Far With Prices As Rates Soar

According to a LoadStar report written by Mike Wackett, there are signs that spot rates from Asia to Europe might be beginning to cool at last.

  • Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index inched up just half a percentage point this week to 2,885, which is 190% higher than a year ago.
  • The North Europe component eased back slightly, by $39, to $4,413 per teu, after putting on $650 in the previous two weeks.
  • Spot rates from Asia to the Mediterranean remained virtually...

https://mfame.guru/carriers-gone-too-far-with-prices-as-rates-soar/

Ocean freight stays hot – Navigate B2B

Navigate B2B 11/20

Will Chinese New Year cool ocean freight?

The current ocean freight market continues to be powered by rocket fuel and on this episode of Navigate B2B, Ocean Audit CEO Steve Ferreira breaks down why. As we approach Chinese New Year in the next few weeks, we no longer have the typical forward-loaded market because every day is forward loaded, says Ferreira.

With Inauguration Day less than a week away, the prospect of additional stimulus will keep operations centered around ocean freight fully...

https://www.freightwaves.com/news/ocean-freight-stays-hot-navigate-b2b

Freight Rates Sky-High Not Likely End Soon

The frenetic levels of containerized cargo movement that have driven freight rates sky-high will not likely end soon, according to a top Maersk executive. The leading ocean carriers are even planning to maintain a high level of capacity through the Chinese New Year – the low-traffic season that usually prompts a raft of blanked sailings, says an article published in The Maritime Executive.

Sailings Are Blanked

Ocean carrier tracking firm eeSea recently told the Loadstar that on all of the major...

https://mfame.guru/freight-rates-sky-high-not-likely-end-soon/

Demand and Covid mean China’s factories will vary closures over new year

There is a great deal of uncertainty over supply and demand on the Asia-EU tradelane over Chinese New Year, according to forwarders.
Generally, factories in China close for the duration of the holiday, this year from 12-26 February, but 2021 looks like it could be different, with varying closure dates across the country.
“In southern China, lots of factories will shut down much earlier than usual this year; people are off from …

The post Demand and Covid mean China’s factories will vary closures...

https://theloadstar.com/demand-and-covid-mean-chinas-factories-will-vary-closures-over-new-year/

Fewer blanked sailings over Chinese New Year 2021 than ever before

Container carriers are expected to provide more deepsea capacity out of Asia over the Chinese New Year holiday, beginning 12 February, than in any other year.
Announced blank sailings for what is normally shipping’s slack season are far fewer this year than previously, according to data from liner database eeSea’s Blank Sailings Tracker.
It shows that, across the transpacific, Asia-Europe and transatlantic trades, just 1.7% and 0.6% of head haul sailings have …

The post Fewer blanked sailings...

https://theloadstar.com/fewer-blanked-sailings-over-chinese-new-year-2021-than-ever-before/

Latin America’s cherry season starts to bite as capacity pours in

The battle to transport South American cherries is under way, with exporters firmly focused on Chinese markets, where the yields are best.
It’s a strong season, according to Chile Economico, with cherry production up some 36% year on year to 310,352 tonnes, with some 90% destined for China in a season that lasts almost up to Chinese new year in February.
Capacity – both air and sea – is now pouring into …

The post Latin America’s cherry season starts to bite as capacity pours in appeared first...

https://theloadstar.com/latin-americas-cherry-season-starts-to-bite-as-capacity-pours-in/

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