Although the SCFI freight indicators on SHA-RTM continue to rise by around 3%, some of the major carriers are beginning to project market demand to soften after CNY.
The Ningbo Beilun lockdown has been lifted during the week. The transportation situation is recovering quickly. This will relieve some of the pressure on the surrounding ports, like Shanghai.
The Beilun COVID outbreak has been the main topic recently. The entire area of Beilun is locked down and limited to essential activities only.
A recent wave of COVID-19 infections across China has led to a tightening of anti-epidemic measures, especially in Hebei Province where a spike in infections led to the lock down of the capital Shijiazhuang, which is only 300 kilometers away from the national capital city Beijing.