The congestion of Yantian Port has extended to the surrounding ports. Due to the cancellation of a large number of ships from Yantian port with serious congestion, it has brought a serious burden to the surrounding ports - the delays of Nansha port and Shekou port continue to increase.
Affected by the congestion of Yantian port, the number of blank flights increased by 300% in the first half of June, and container freight continued to soar to an unprecedented level.
Project 44 analysts said that from June 1 to 15, the global container liner stopped 298 voyages, with a total capacity of more than 3 million TEU, which means that the number of discontinued voyages increased by 300% in one month. Although not all air traffic is caused by Yantian international container terminal, its impact is obvious.
Josh Brazil, vice president of marketing at project44, said: "although Yantian port is the epicenter of the accident, these figures have brought trouble to the entire shipping industry, especially those companies that rely on these routes. Even freight that is not directly affected by the situation in Yantian will be involved because operators adjust their networks to avoid congestion."
Josh Brazil said that as of June 24, the number of blank flights was still rising and would decline later, depending on the continued control of the epidemic in the port and South China.
Maersk said that as of June 21, the parking density of Nansha has reached 100%, and it is expected that ships in Nansha port will continue to be delayed for 4-5 days in the next week. Nansha only accepts export containers loaded seven days before the expected arrival time of the ship, and only when the truck transportation company confirms the advance reservation at the wharf. The supply of 40 foot containers in Yantian and Shekou is still tight, and Maersk recommends that customers use 20 foot containers instead.
Shekou port, including Chiwan container terminal, Mawan container terminal and Shekou Container Terminal, has tightened regulations to accept only locks loaded with export goods within four days before the expected arrival time of ships.
Shekou port (including Chiwan container terminal, Mawan container terminal and Shekou Container Terminal) has tightened the regulations and only accepts export reservations within 4 days before the arrival of the ship. As far as Yantian itself is concerned, Maersk reported that the operation capacity of the east area of the wharf is about 54% of the normal transportation capacity, which is gradually restored, and the density of the storage yard is reduced to 60%. Maersk expects that flights in Yantian will be "delayed for more than four days" in the coming week.
On June 21, Maersk reported that the number of vessels operated by Maersk and its partners to cancel the attachment to Yantian increased to 90 from 84 last week. Containers carrying imported goods on these vessels are expected to be delayed by more than three weeks.
Project 44 warns that even if operations return to normal, it may take weeks to dispose of the backlog of containers. "If the Chinese authorities extend their strict control measures, the double-digit blank navigation rate per day may continue until July, disrupting the supply chain of this important global port until the summer," the analyst said
At present, the centralized transportation market is facing various problems caused by cargo backlog, ship delay, port hopping, shortage of containers and shipping spaces. Some analysts said that once the port resumes normal operation, it is expected that there will be a surge in demand for goods export in the next 2-5 weeks, as well as a chain reaction caused by the interruption of empty container deployment returning to South China. The follow-up impact of this incident will last for more than half a year.
Ryan Petersen, chief executive of flexport, said there was no single solution to the problem of shipping delays disrupting the global economy. Solving this global shipping delay "may take some time", especially with the peak holiday season and Christmas approaching.
At the same time, the continuous congestion, shortage of transport capacity and equipment are driving the rising container freight rate. On June 17, Drury's world container composite index rose 3.4%, or US $231, to US $6957.44/feu. Shanghai Rotterdam prices rose 6% over the previous week, reaching US $11196 per standard box, a year-on-year increase of 534%. Drury expects the rate to rise in the coming week due to the implementation of gri, high production and equipment shortage.
Congestion in South China has led to congestion surcharges levied by shipping companies, and FAK and premiums continue to rise. In the week ended June 18, S & P global Platts said that the premium service charge for goods from North Asia to the Pacific coast of the United States was $9000-10000 / feu. The freight rate to the Atlantic coast of the United States (Transatlantic to the east of the United States) is much higher than that across the Pacific. The price of all premium booking is more than $15000 / feu, but the source said that the freight rate is close to $18000 to $20000 / feu. "Premiums are approaching FAK rates for March and April," said one North American shipper The inland container circulation at the destination port is slow, the empty shift increases, and the freight rate further rises. Even the premium service can not guarantee the shipping space. It is recommended to book the space four weeks in advance.
Asia America (trans Pacific route): there is a shortage of accommodation on the West / east coast of North America; Due to port congestion, shipping schedule delay, capacity imbalance, inland transportation delay, and the continuous strong demand for imports in the Americas, many shipping companies announced to increase and levy gri and PSS in July; It is inevitable that freight rates will rise further in July. It should be noted that: due to port congestion, the transport capacity is in short supply, and the slewing pressure of empty containers increases; The shipping company is limited to goods at inland points.
Asia Europe routes: the European and Mediterranean markets have strong demand, and the shipping space is very tight. The SCFI index of the European line has risen steadily, and the freight rate has reached an all-time high; Due to the slow operation of the terminal in South China; Ships have cancelled their attachment to Yantian wharf one after another, and some goods choose to go north and ship from East China. The shortage of containers in East China market will further intensify in the coming weeks. Freight rates will continue to rise.