Asia-USWC spot rates spike as Chinese New Year holiday looms
Container spot rates from Asia to the US west coast spiked last week, ahead of the Chinese New Year holiday on 1 February.
Source: The Loadstar
The recent shipping container shortage that’s left everything from soybeans to smartphones idling in ports threw global trade into chaos. While shippers were scrambling to keep their goods moving, the import/export imbalance pushed ocean rates to eye-watering levels. So, where have all the containers gone? Many remain stranded in inland depots, and hundreds more are…
Today, freight procurement is more than just about the price. It is one of the most crucial parts of the supply chain and has the potential to enable high-performance levels and drive ROI to a major extent. The ongoing year has been a year of disruption and transformation for the freight procurement industry owing to…
Container line schedule reliability dropped from 78% in 2019 to 63.9% in 2020, and then to 35.8% in 2021, marking a staggering drop from the pre-2020 levels. Source: Container News
Shanghai port recorded the highest container volume in 2021 with a 3% growth YoY, maintaining its position as the busiest port for 12 consecutive years. Source: Seatrade Maritime
Australia is set to re-open its doors to international tourists next week, paving the way for a welcome boost to airfreight capacity. Source: The Loadstar
Over the last two years, as supply chains are being forced to respond to various disruptions, the need to invest in risk mitigation strategies has come to the forefront. A recent Statista survey found that 72% of businesses are still suffering from the adverse effects of the pandemic. As global supply chains continue to face…