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On-time performance continues to improve, but has not returned to pre-covid levels. Fulfillment, transit, and click-to-deliver times show signs of improvement and below peak-season (November-December) benchmarks. Accounts are increasing the number of carriers used. Changes to USPS First-Class Priority packages show no impact to lead times
Ports of Busan and Pyeongtaek operations slowed. Exports ranging from steel to plastics to consumer goods could be affected by the strike. Truckers are protesting the expiration of a law that guarantees a minimum wage for drivers as fuel prices soar.
Construction work to expand long-term capacity has led to the closing of two berths. 23 container vessels are currently anchored awaiting berthing slots. Vessels are waiting 5.5 days for berthing slots
Global carriers turn focus to service reliability as Chinese exports falter. Delays from China on the decline as the impact of lockdown measures ease. Meanwhile, carrier lead times are falling on key China-US West Coast and Asia-Europe trade lanes. Blank sailings on the rise as carriers move into low season and exports slow. Rates and vessel delays down from the first quarter peak.
Despite improvements, full truckload on-time performance (OTP) yet to return to pre-Covid norms in the United States and Europe. Past shortage of truck drivers now shifting to shortage of vehicles. Surge in diesel prices severely impacting road freight, logistics and distribution industries
The slowdown in US demand coupled with the COVID lockdowns in China resulted in congestion levels dropping by 5%, 23%, and 18% across the US West, East, and Gulf coasts, respectively, in April. Shanghai showed an increasing trend in vessels waiting for a berth and a decreasing trend in vessels berthed, with a 64% increase in the number of vessels waiting for a berth and a 13% decrease in the number of vessels at berth in April. Transshipment rollover rates continued to increase in 2022 compared to the same time last year
The on-time performance continues to improve but has not returned to pre-covid levels. Fulfillment, transit, and click-to-deliver times have remained stable and below peak-season (November-December) benchmarks. Accounts are increasing the number of carriers used.
Although vessel congestion hasn’t been much of an issue , major delays persist. Rerouting shipments to the East Coast has tested domestic supply chains. Whiplash effect expected in months to come, just as WC Union labor negotiations get underway
Improved port performance resulted in steep reductions in vessel delays and cargo lead times from China to US West Coast ports from January to March. Following the COVID outbreaks in China, many ocean carriers have taken a variety of strategies when it comes to blank sailings to maintain schedule integrity. Cargo lead times from China to the US East and Gulf Coasts continued to rise in March to over 45 days. Cargo lead times from China to the EU/UK also maintained record highs in March.
Delays may continue into the summer months even as Shanghai’s manufacturers come back online. Lack of components and logistics issues hampering the reopening of factories in China and other Asian manufacturing hubs. U.S. West Coast ports already working at a limit and concerned about the post-lockdown surge in imports from Asia with subsequent delays