China Ocean Freight Update
30th April, 2024
There are a few pressing issues in China that are causing some delays with ocean freight cargo.
Firstly, the shipping lines via blank sailings have taken out the equivalent of 420000 x 20’ containers positions in April, this is causing tighter space and a subsequent increase in freight rates. Both blank sailings and rate increases are anticipated to continue into May.
Secondly, Labour day holidays commence May 1st to May 5th, space would generally tighten a little over this break but with the added blank sailings the tightening of space is accentuated.
Given the current market conditions it is increasingly important that all your orders are shared with the SCC team as soon as they are raised with your suppliers, even if the cargo ready date is 4 weeks away, it is advantageous for us to have notice of your orders at this time.
Separate to the issues above we are also advised that there is a lack of 40’ containers, all shipping lines are faced with this. The equipment shortage is causing suppliers to sometimes be waiting longer in a queue to secure one and having to collect them from empty container parks that are further than normal collection points. The major reason for the shortage is due to all vessels leaving from Europe are spending 14 days longer on the way to China and empty containers are not returning to China on time.
Please contact sales@sccargo.com.au if you would like any further details.
Photo by Diego Fernandez on Unsplash
