The world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast. Net income this year will likely reach $256 billion, roughly equivalent to the gross domestic product of Portugal, based on the 11 carriers monitored by industry veteran John McCown, […]
Read MoreA softening of demand combined with record production of new containers last year has forestalled a container shortage. Despite the significant number of containers held up in North America and Europe, ocean carriers, importers and forwarders said that shippers are not facing difficulties obtaining container equipment in China and other points of origin in Asia. […]
Read MoreOverall, China’s total container volumes have only seen a marginal contraction of 2.5% in April despite pandemic-related lockdowns in Shanghai. Even though Shanghai port recorded a -25% drop in containers handled in April, much of that volume was redirected with seven of the ten largest container ports located in China, The McCown Report assessed. Cargo […]
Read MoreSupply chains are experiencing a massive bullwhip from the COVID economy and have built up massive inventory levels. A slowdown in consumer spending caused by inflation and a potential recession will have a massive impact on freight demand and prolong an inventory drawdown. As we look at the pandemic through the rearview mirror, the economy […]
Read MoreA drop of exports from China has Asian shippers stepping in to fill the gap, according to data showing a recent surge of Trans-Pacific containerized imports into the U.S. The share of U.S. imports from China compared to all Asia imports contracted approximately 6 percentage points to 58.7% between February and April. Vietnam, the […]
Read MoreOf the world’s top-five most connected economies, four were in Asia in the third quarter of 2021, according to the United Nations Conference on Trade and Development (UNCTAD). China had the highest liner shipping connectivity followed by Singapore, Republic of Korea, Malaysia, and United States A majority of the largest ports in the […]
Read MoreChina has mandated a strict “zero COVID” policy since the onset of the global pandemic, which has led to tight lockdowns across the country whenever cases have started to spike. Recently, lockdown restrictions have been enacted in major cities like Shenzhen and Shanghai, as China deals with one of its worst outbreaks since Wuhan in December […]
Read MoreData from Accenture’s Seabury indicated capacity out of Shanghai had fallen 40% from March although data from Clive Data Services showed load factors have reached the lowest levels ever recorded. Niall van de Wouw, head of airfreight at Clive Data Services said Shanghai Westbound load factors were 49% last week. “The average between January and […]
Read MoreLocal authorities have eased lockdown restrictions in Shenzhen, saying the COVID-19 outbreak is now mostly under control. Factory operations and public transport in four districts including Yantian and a special economic zone have been put back into operation. Landside logistics and productivity at key manufacturing hubs had been impacted by movement restrictions which began on […]
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