The supply of cargo space is failing to meet market demand from China’s major ports.
The amount of cargo and rates will likely increase even more after June 15th, due to the continuing impact on international logistics:
- Pandemic (Worldwide Covid´s known situation).
- Port congestion.
- Limited space availability.
The Market situation in Asia continues to be complex:
– The Covid outbreak started in Shenzhen, causing operations to be closed for one week. Then the city of Shanghai was under total confinement for 65 days, provoking the relocation of all the cargoes to the surrounding ports. On June 1st restrictions were more flexible, and the local transportation reactivated operations.
– China’s holidays from June 3rd to June 5th paused all shipments until the 6th. All the unshipped cargo before the holidays and the new ones arriving at the harbors provoked massive congestion, shortage of equipment, and space in the ports.
In addition to all the above mentioned, an explosion occured in a warehouse in Bangladesh, exacerbated by mislabelled chemicals. We hope this situation does not generate more complications.
We recommend you do your reservations 1 to 2 weeks in advance to optimize time and costs.