Congestion at Yantian Port has extended to surrounding ports. As a large number of ships canceled calls at Yantian Port, which is heavily congested, a serious burden has been placed on surrounding ports-delays in Nansha Port and Shekou Port continue to increase.
Affected by the congestion at Yantian Port, the number of blank flights in the first half of June rose by 300%, and container freight continued to soar to unprecedented levels.
Project44 analysts said that between June 1st and 15th, global container liners were suspended for 298 voyages, with a total capacity of more than 3 million TEU, which means that the number of suspended voyages within one month has increased by 300%. Although not all air flights are caused by Yantian International Container Terminal, the impact is obvious.
Josh Brazil, vice president of marketing at project44, said: "Although Yantian Port was the epicenter of the accident, these figures have caused trouble for the entire shipping industry, especially those companies that rely on these routes. Even if they are not directly affected by the situation in Yantian Freight will also be implicated because operators adjust their networks to avoid congestion. ”
Josh Brazil said that as of June 24, the number of blank voyages is still rising, and will decline thereafter, depending on the port and the continued control of the epidemic in South China.
Maersk said that as of June 21, the density of Nansha's parking lot has reached 100%, and it is expected that ships in Nansha Port will continue to be delayed for 4-5 days in the coming week. Nansha only accepts export containers loaded seven days before the estimated time of arrival of the vessel, and only if the trucking company confirms the advance booking at the terminal. The supply of 40-foot containers in Yantian and Shekou is still tight. Maersk recommends that customers use 20-foot containers as an alternative.
Shekou Port, including Chiwan Container Terminal, Mawan Container Terminal, and Shekou Container Terminal, has tightened regulations and only accepts locks full of export goods within 4 days before the estimated time of arrival of the vessel.
Shekou Port (including Chiwan Container Terminal, Mawan Container Terminal and Shekou Container Terminal) has tightened regulations and only accepts export bookings within 4 days before the arrival of the ship. As far as Yantian itself is concerned, Maersk reported that the operating capacity of the eastern part of the terminal is about 54% of the normal capacity, and it is gradually recovering, and the yard density has dropped to 60%. Maersk predicts that Yantian flights will be "postponed by more than 4 days" in the coming week.
On June 21, Maersk reported that the number of cancelled vessels operated by Maersk and its partners in Yantian increased from 84 last week to 90. The container loading of imported goods on these ships is expected to be delayed by more than three weeks.
Project44 warned that even if operations return to normal, it may take several weeks to process the backlog of containers. The analyst said: "If the Chinese authorities extend their strict control measures, the daily double-digit blank sailing rate may continue until July, throwing the supply chain of this important global port into chaos until the summer."
At present, the container shipping market is facing various problems caused by cargo backlog, ship delays, port jumps, shortage of containers and space. Some analysts said that once the port resumes normal operations, it is expected that there will be a surge in demand for cargo exports in the next 2-5 weeks, as well as a chain reaction caused by the interruption of empty containers returning to South China. The subsequent impact of this incident will be It will last for more than half a year.
Flexport CEO Ryan Petersen said that there is no single solution to the shipping delays that disrupt the global economy. Resolving this global shipping delay "may take some time", especially during the holiday season and Christmas.
At the same time, continued congestion, capacity and equipment shortages are pushing container freight rates to rise. On June 17, Drewry's World Container Index rose 3.4%, or 231 US dollars, to 6957.44 US dollars/FEU. The Shanghai-Rotterdam price rose by 6% from the previous week, reaching US$11,196 per TEU, a year-on-year increase of 534%. Drewry predicts that due to the implementation of GRI, high output and equipment shortages, the rate will increase in the coming week.
Congestion in South China has led to congestion surcharges imposed by shipping companies, FAK and insurance premiums continue to rise.In the week ending June 18, S&P Global Platts stated that the premium service charge for goods destined for the Pacific coast of the United States from North Asia was US$9,000-10,000/FEU. The freight to the Atlantic coast of the United States (transatlantic to the east of the United States) is significantly higher than that of the trans-Pacific. All premium bookings are more than $15,000/FEU, but sources say the freight is close to $18,000 to 20,000. USD/FEU. A North American shipper said: "The premium is approaching the FAK rates in March and April. " The inland container flow of the destination port is slow, the empty shift increases, and the freight rate further rises. Even premium services cannot guarantee space. It is recommended to book four weeks in advance.
Asia-U.S. (trans-Pacific route): The West Coast/East Coast of North America is tight; due to multiple factors such as port congestion, shipping delays, capacity imbalances, inland transportation delays, and the continued strong demand for imports from the Americas, many The shipping company announced the GRI and PSS to be increased and levied in July; further increases in freight rates are inevitable in July. It should be noted that due to the congestion of the port , the capacity is in short supply, and the pressure of empty container rotation is increased; shipping companies are limited to receiving cargo from inland points.
Asia-Europe route: European and Mediterranean market demand is strong, space is very tight, the SCFI index European line has steadily increased, and the freight rate has reached a record high; due to the epidemic prevention and control measures in South China, the terminal has tightened the operation process and the operation is slow; ships have successively cancelled calls At Yantian Wharf, some goods choose to go northward to ship from East China . The shortage of containers in the East China market will further intensify in the next few weeks. Freight rates will continue to rise.
This article comes from the shipping network