GOLDEN WEEK

Golden week holidays no barrier to rate index decline

Rates on the two major trades to Europe and the United States continued to slide even as workers begin their slow return to factories in China following the Golden Week holidays.

Last week’s shutdown of production in China included the Shanghai Container Freight Index (SCFI) which will resume publishing its rates this week with the headhaul Pacific rates already US$200/FEU below the last SCFI value.

Spot freight rates to Europe were set at a pre-Golden Week level of US$1,166/FEU but are now said...

https://container-news.com/golden-week-holidays-no-barrier-to-rate-index-decline/

Container lines add blank sailings to match supply with lower demand in Golden Week

With the upcoming Golden Week holiday in Asia in early October, as factories close, and container demand to and from Asia declines, shipping lines respond by blanking sailings to match supply with the lower demand, according to latest Sea-Intelligence report.

“However, when we first looked at the blanked capacity at the 2023 Golden Week two weeks ago in issue 629 of the Sea-Intelligence Sunday Spotlight, the carriers had not planned anything near to what was necessary to meet the blanked...

https://container-news.com/container-lines-add-blank-sailings-to-match-supply-with-lower-demand-in-golden-week/

Sea-Intelligence sees no signs of Golden Week capacity reductions

The Danish consulting and researching company Sea-Intelligence has looked at how much capacity the carriers have so far planned to deploy/withdraw in the four-week Golden week period (weeks 40-43) on Transpacific and Asia-Europe.

With the Chinese Golden Week holiday approximately a month away, normally carriers would have by now announced the full extent of their blank sailings program in anticipation of the slowdown in demand, according to the report.

“Given the current market situation, it...

https://container-news.com/sea-intelligence-sees-no-signs-of-golden-week-capacity-reductions/

China’s Golden Week to trigger new round of void sailings

The shippers are in for struggle yet another time, with the market buzzing in speculations of liners planning of ‘blank sailing’ during China’s Golden Week holiday in early October to extract maximised profits.

The scheme follows a set of tactics executed by companies to build on the pandemic induced consistent high freight rates. The partial shutdown of the major Ningbo’s Meishan terminal, so close to the national holiday has made it ideal for executing another round of blank sailings.

The...

https://container-news.com/chinas-golden-week-to-trigger-new-round-of-void-sailings/

Golden Week transpacific blankings reach Covid-19 peak levels

The capacity reductions which have been already decided by the shipping lines amidst the upcoming Chinese Golden Week are at similar levels to the Covid-19 curtailments during the peak period of the virus in the second quarter.

The essential difference, according to a container market analyst, is that Golden Week capacity cuts will happen on a significantly more short-term basis.

During the October holidays in China, individual voyage numbers are cancelled, while in the pandemic lockdown the...

https://container-news.com/golden-week-transpacific-blankings-reach-covid-19-peak-levels/

Container Freight Rates Take a Fall Following the Golden Week

Spot container freight rates on the transpacific and Asia-Europe are coming under intense pressure ahead of a weak outlook for the markets, following China’s Golden Week holiday factory shutdown the first week of October, reports The Loadstar.

Spot rates scenario

The Shanghai Containerized Freight Index (SCFI) show further declines, the North Europe component falling 6.2%, to $710 per teu, while rates to west Mediterranean ports were down 2%, to $877 per teu.

Spot rates for North Europe are about...

http://mfame.guru/container-freight-rates-take-a-fall-following-the-golden-week/

MSC announces Golden Week blank sailings

Due to the anticipated slowdown in demand during and after the Golden Week holiday, MSC Mediterranean Shipping Company plans to exclude sailings during this period.

The change will help MSC to match capacity with the expected weaker market demand for shipping services.

“However, you may continue to place bookings as usual as we are arranging alternate routings,” the shipping company says in its announcement.

MSC’s blank sailing programme will start as from week 40 as per the below tables (updates):...

https://container-news.com/msc-golden-week-blank-sailings/

APL implements Golden Week void sailings

APL will be implementing below void sailings for its Asia-North America services to match the market demand during the China Golden Week.

To minimize impact to its customers, APL offers alternative sailings originally intended on the advised void sailings.

The details are as follows:

U.S. East Coast – Void Sailings

Service Vessel Voyage Original ETA
Asia port Original ETA
U.S. port
AW1 – China AW Loop 1CMA CGM J. ADAMS
(0MB45E1PL)		ETA Qingdao
6 Oct 2019		ETA New York
8 Nov 2019
AW2 – China...

https://container-news.com/apl-golden-week-void-sailings/

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.