Update on the Ukraine conflict

BGL is closely monitoring on developments concerning the situation in Ukraine. We will assist our customers as the conflict progresses in addressing any negative effects on their supply chains. BGL expects that the recent developments in Ukraine will impose significant operational and capacity limitations across all modes of transport on the entire region, including Russia.

Chinese New Year – Market Update IV

Due to recent COVID outbreaks and quarantine restrictions between China’s provinces, the demand for returning home is expected to be lower than in previous years. Some factories shut their production earlier to allow staff to travel to their home town with a sufficient quarantine period.

Chinese New Year – Market update III

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.

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.

Chinese New Year – Market update week 5

It is now getting to a critical point for shipping where CNY break is right are the corner, getting trucking arrangement done in the first week of February become exhausting. More and more trucking companies stopped accepting new trucking jobs from this week, drivers and a great number of the workers are heading to their hometowns as from 28 December 2020, to start 2021’s Chunyun (春运).