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Shipment delays to Oceania are rising, with the ports in New Zealand worst affected. Moreover, shipments between USA and Oceania are also seeing a significant rise, so much so that New Zealand fears its exports will bear the brunt.
Three days following the strike, cargo diversions begin to reveal alternative destinations, with the ports of London Gateway and Southampton seeing uptakes in TEU volumes.
Export and Import dwell times improved for Port of Halifax but are rising for Montreal and Vancouver. Shipment delays from China to Canada have increased between June and July.
The US East Coast is struggling with ongoing port congestion. While Trans-Pacific cargo lead times remain low in July, other trade lanes continue to struggle. Also, the West coast container dwell times are again rising amidst ongoing rail constraints. The UK is bracing for Felixstowe's strike as carriers announce blank sailings.
With peak season round the corner, an increase in vessel congestion is being recorded at the East and Gulf ports of the US. Containerized import shipments are at an all-time high with Savannah facing the largest uptick in incoming cargo. This comes in the wake of shippers continuing to exercise caution about the West Coast without any ILWU contracts or extensions. However, the port of Charleston has been able to avoid congestion. To learn more, check out our news brief.
So far, only 12 vessels have exported Ukrainian grain, and the clock is ticking to get the aging harvest out quickly. However, according to project44 intelligence, massive vessel congestion at the entrance of the Romanian side of the Danube River could delay exports further. What can be done to stave off global food shortages before it’s too late? Read the complete report.
Despite the Chinese military drills in the strait of Taiwan and around the country, the ports have remained open. Also, no fall has been recorded in the number of container ships en route to Taiwan or outbound traffic, though vessels have been rerouting to avoid military exercise zones. However, a major threat looms over the global trade and world economy if the conflict escalates, considering China’s announcement of extending their live-fire military exercises up to 15 August.
Felixstowe is the UK’s leading container port handling 48% of the country’s imported containerized goods. Right now, it looks highly likely that the 1,800 dockworkers will go on strike toward the end of August. Strikes in Germany and Oakland, California recently demonstrated that import containers are particularly susceptible to delays. For more information on what you can expect if the strike occurs, read on.
There is ongoing uncertainty about the impact of soaring inflation on demand for ocean freight capacity. Even as spot rates continue their downward trend, currently hovering at 50% lower rates than the peaks of 2021, many ports continue to report record high TEU volumes. The shift in consumer spending away from goods to services will be the primary driver for supply chains in months to come. So, what can we expect? Check out our second part in the series, “Are Global Supply Chains Recovering?“, to get an overview of what the data is telling us.
High inflation rates are reducing consumers’ purchasing power. As schedule integrity is showing signs of improvement globally, there are also signs of improvement in shipment-on-time performance. Even delays on China-US West Coast and China-Europe routes are lessening.