Chinese New Year – Market update II
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.
To support the shipping industry during the CNY period, South China ports like Guangzhou and Zhongshan have announced that they will prolong the free demurrage for general cargo loaded containers from normally 7 days up to 14 days, starting from next week (gate-in).
The Tianjin area is not encountering a new wave of COVID-19 outbreaks. All transportation in and out of the port area requires a green health code and a valid PCR report that says the test was done within 48 hours. This is another event that will disturb the logistics operation.
On the airfreight side, the current market this week is quite slow. Rates are flat. Other than that, there is nothing too much going on.