Congestion at Yantian port has extended to surrounding ports, as a large number of ships have canceled calling at the severely congested Yantian port, which has brought serious burdens to surrounding ports-delays at Nansha port and Shekou port continue to increase.
Affected by congestion at Yantian port, blank sailings rose 300% in the first half of June, and container freight continued to soar to unprecedented levels.
Project44 analysts said that between June 1 and 15, 298 voyages of global container liners were suspended, with a total capacity of more than 3 million TEU, which means that the number of suspended voyages increased by 300% within one month. While not all of the air traffic is caused by Yantian International Container Terminals, the impact is palpable.
Josh Brazil, project44's vice president of marketing, said: "While Yantian Port was the epicenter of the accident, these figures cause 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 of freight will also be affected as carriers adjust their networks to avoid congestion on them. ”
According to Josh Brazil, as of June 24, the number of blank voyages is still rising, and there will be a decline after that, depending on the port and southern China's epidemic situation continuing to be contained.
Maersk said that as of June 21, the density of the car park in Nansha has reached 100%, and it is expected that ships at 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 ship's estimated time of arrival, and only if the trucking company confirms advance booking at the terminal. The supply of 40-foot containers in Yantian and Shekou is still tight, and Maersk advises customers to use 20-foot containers as an alternative.
The port of Shekou, which includes Chiwan Container Terminal, Mawan Container Terminal and Shekou Container Terminal, has tightened rules to only accept locks fully loaded with export cargo up to four days before a ship's expected arrival time.
The Shekou Port (including Chiwan Container Terminal, Mawan Container Terminal and Shekou Container Terminal) has tightened regulations and only accepts export bookings made within 4 days before the ship's arrival. As far as Yantian itself is concerned, Maersk reported that the operating capacity of the terminal east area is about 54% of normal capacity, and it is gradually recovering, and the storage yard density is reduced to 60%. Maersk expects Yantian flights to be "delayed by more than 4 days" in the coming week.
On June 21, Maersk reported that the number of vessels operated by Maersk and its partners that had canceled calls at Yantian rose to 90 from 84 the previous week. Containers loaded with imported cargo on these ships are expected to be delayed by more than three weeks.
Project44 has warned that even if operations return to normal, it could take weeks to process the backlog of containers. "If Chinese authorities extend their stringent controls, daily high double-digit blank sailing rates could extend into July, throwing supply chains at this globally important port into turmoil until summer," the analyst said.
At present, the container shipping market is facing various problems caused by the backlog of cargo, ship delays, skipping ports, and 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 the chain reaction caused by the interruption of the deployment of empty containers returning to South China. The follow-up impact of this incident will be It will last for more than half a year.
Flexport CEO Ryan Petersen said there is no single solution to the shipping delays that have roiled the global economy. Resolving this global shipping delay "may take a while," especially with the holiday season and Christmas looming.
At the same time, ongoing congestion, capacity and equipment shortages are driving up container freight rates. On June 17, Drewry's World Container Composite Index rose 3.4%, or $231, to $6957.44/FEU. Shanghai-Rotterdam prices rose 6% from the previous week to $11,196 per TEU, a 534% year-on-year increase. Drewry expects rates to rise in the coming week due to GRI implementation, high production and equipment shortages.
The congestion in South China has already led to congestion surcharges imposed by shipping companies, and both FAK and insurance premiums continue to rise. In the week to June 18, S&P Global Platts said premium service charges for cargo sailing from North Asia to the U.S. Pacific Rim were $9,000-$10,000/FEU. The freight rate to the Atlantic coast of the United States (transatlantic to US East) is significantly higher than that of the transpacific, and the price of all premium bookings is more than 15000 US dollars / FEU, but the source said that the freight rate is close to 18000 US dollars to 20000 US dollars USD/FEU. A North American shipper said: " The premium is approaching the FAK rate in March and April. " The inland container flow at the destination port is slow, the number of empty flights increases, and the freight rate rises further. Even the premium service cannot guarantee the space. It is recommended to book four weeks in advance.
Asia-America (trans-Pacific route): The space on the west coast/east coast of North America is tight; The shipping company announced that the GRI and PSS will be raised and levied in July; a further increase in freight rates in July is inevitable. It should be noted that: due to port congestion, the supply of transport capacity is in short supply, and the pressure of empty container slewing increases; the shipping company restricts the cargo from inland points.
Asia-Europe route: European and Mediterranean markets have strong demand, and the space is very tight. The SCFI index of the European route has risen steadily, and the freight rate has reached a record high; At Yantian Wharf, some goods are shipped northward from East China, and 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 Haiyun.com