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Asian containers market to face peak demand, port congestion in H2 2021 | Hellenic Shipping News Worldwide
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Container shipping grapples with China ports operational delays
Many container shipping companies have been forced to draw contingency plans to mitigate supply chain disruptions stemming from operational delays in China as new COVID-19 related cases emerge in Shenzhen and Guangzhou.
While Shenzhen has ports like Yantian and Shekou, Guangzhou houses Nansha port.
Yantian International Container Terminals, or YICT, yard density remains elevated with disinfection and quarantine measures being continuously implemented by local authorities to prevent the spread of COVID-19, Maersk said in an advisory on June 8.
“We expect continued terminal congestion and vessel delays upwards of 15 days in the coming week,” it said.
Container freight rates of Asia-Europe route hitting new highs
Due to the combined effects of strong shipping demand, port delays, and shortage of containers, the spot price of containers continued to rise and reached new highs. Part of the reasons for this price increase is the shortage of ships, as most of the capacity has been used on the popular trans-Pacific and Asia-Europe trade routes. In fact, in recent months, many ships have been moved from less popular trade routes to the Asian market. Shipping companies have transferred as much capacity as possible to facilitate the booming Asia-Europe and trans-Pacific trade. Nevertheless, there is no sign for the freight rate of the Asia and Northern Europe route to go down.
Container Premiums: Trans-Pacific surcharges escalate amid shortage of available space
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Container freight rates to N America from N Asia trump Southeast Asia in a rare flip
Spot container freight rates from North Asia to North America have surpassed those from Southeast Asia to North America in an atypical market situation, S&P Global Platts data showed.
For the last several months, prices from Southeast Asia to North America have been higher than those from North Asia, for a variety of reasons including decreased container availability and severe congestion issues at key transshipment ports in Southeast Asia.
In East Coast North America, it’s currently $450/FEU cheaper to ship from Southeast Asia than from North Asia. Prior to the flip, the Southeast Asia to East Coast North America freight rate was higher than the North Asia to East Coast North America freight rate, by around $100-$150/FEU in April. In March, the spread had peaked at $250/FEU.
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