Rising Covid-19 cases in a number of Chinese cities, as outlined in our news article in March, have led to strict lockdowns which have caused significant delays at Chinese ports.
There were approximately 500 container vessels waiting outside Chinese ports last week. In February, approximately 250 container ships were waiting to offload, meaning that there has been a 200% increase in waiting ships. This is likely to have a huge impact on global supply chains.
Theloadstar news outlet is reporting that the delays at Chinese ports account for 30% of vessels worldwide waiting to offload containers at sea ports.
There is mixed news on the prospects for Shanghai and Ningbo ports in the coming weeks. Initial data from this week shows that port congestion at Shanghai and Ningbo is starting to ease and is expected to improve in the next few days.
Factory production in Shanghai has restarted this week and there is a risk that there will be a steep increase in demand for export cargo in the coming weeks.
World container prices are still much higher than historical norms, although 20% lower than the highs of summer 2021.
Other factors still impacting global supply chains
The Ukraine crisis has had an impact on both air and sea freight in Europe and North Asia.
Delays at Dover remain due to the lack of ferry services provided by P&O.
The introduction of the Goods Vehicle Movement Service (GVMS) and Goods Movement Reference (GMR) numbers, alongside new rules of origin requirements, continues to cause delays at UK ports.
If you are looking to reduce freight costs and risk in your supply chain, contact us at Tudor International Freight, on 0333 1234 747 or email email@example.com.
About Us - Tudor International Freight
Established in Horsforth, Leeds, back in 1991, we are a logistics company who are experts in road, air and sea freight. We transport goods to most major cities, towns and suburbs across all 6 continents. We go over and above to ensure that our client’s products, goods and cargo are transported around the world safely and successfully. We are a family business, who are still based in Horsforth, Leeds, West Yorkshire.