Post New Year China Update
After the Chinese New Year period, culminating in this week’s Lantern Festival, China production is now starting to build, but there is little evidence of any ‘major’ rate relief yet.
Prior to the public holiday week many Chinese ports were under pressure from congestion or Covid outbreaks and the current position is as follows:
Ningbo – some improvement over holiday but still suffering port congestion
Qingdao – operating normally
Shanghai – some improvement over holiday but still suffering port congestion
Tianjin – operating normally
Guangzhou – operating normally
Hong Kong – operating normally but still some covid issues
Shekou – operating normally
Shenzhen – operating normally but still some covid issues
Yantian – operating normally
Ports in Northern China are currently struggling with equipment shortages, which has led to a significant difference in freight costs between North and South.
Many importers had hoped that the Chinese New Year period would act as a circuit breaker for the high freight rates that have plagued the trade since the onset of the pandemic. However, there has been little evidence that rates are going to tumble soon.
The team at Jenkar will continue to monitor the situation closely. If you would like to find out more about our competitive rates and extensive services from Asia, then please do not hesitate to contact us.