Despite the relaxation of strict COVID-19 protocols across much of China, the region is making attempts to recover trade with a focus on increasing exports to Europe and the United States of America. The attempts, however, are somewhat stunted by a lack of European and US demand, with drop-off of between 20-30% noted in manufacturing orders compared to pre-pandemic levels. Furthermore, China’s air cargo is back to normal operating levels but is also being subject to weak demand.
See below for a city by city China ocean update:
Northern European and Trans-pacific volume is low for the current period however, space is tight on various lines.
Delays and blank sailings still occurring at Xingang port and bookings at least 2 weeks prior to sailing are advised.
The trucking situation continues to improve.
Some blank sailings still, however capacity at the port is good.
COVID-19 is still a challenge across Shanghai with localised lockdowns, although cargo volumes moving through Shanghai's terminals is beginning to increase.
Cargo moved to Ningbo to avoid Shanghai lockdowns is now being moved out, opening warehouse space and relieving trucks.
Space to Northern Europe and USA is OK but very tight elsewhere.
Delays are unlikely to subside in the immediate future as almost half a million TEU is awaiting berth outside of Ningbo.
Delays averaging 1 week which is disrupting port operations and container movements. Some adhoc discounted rates from carriers as weak demand to Europe and US.
Cross border trucking is beginning to recover between Hong Kong and Yantian however, prices are holding very high. Equipment shortages continue on 20' containers.
Allow for booking 2-3 weeks prior to shipping as limited space is available.
A shortage of 20' containers continues to disrupt capacity.
Strict checks are being undertaken on the carrying of dangerous goods cargo and more paperwork must be completed around these.
Some discounted rates to Northern Europe and the United States upon request with trade to these regions slowing in recent months.
Rates from Hong Kong remain high whilst there is a shortage of 40' containers at the terminal.
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