Port congestion will continue to drive freight rates through Q2 2022

The number of container ships anchored off the ports of Shanghai-Ningbo, the largest foreign trade center for China and the world, on Friday, November 5, reached 248, 31 less than the average from April to October, while its neighbor The smallest to the north, the regional port of Tianjin, had 14 container ships on standby, 11 more than usual.

At Asia's second-highest concentration of call-offs, Hong Kong-Shenzhen, the ship count stood at 221, 30 more than average, while its smaller southern neighbor, Qinzhou, recorded a peak of 10 containerships. .

Reports indicate that congestion levels in China peaked at 361 ships in late July, when Typhoon In-Fa hit eastern China, restricting access to major ports such as Shanghai and Ningbo. Unable to enter the ports safely, the queues accumulated and caused further disruption in schedules. Since then, in the past three months, container congestion has been observed to gradually decrease in China.

Singapore, which fell from the peak on Monday, November 1 when it counted 53 ships on hold - 17 ships more than usual - which has led it to reflect a congestion rate of 48,2%, or 10,5 percentage points more than the median. In neighboring Malaysia, Tanjung Pelepas saw its net congestion increase by 30,5 points, to 57,1%, and Port Klang increased its congestion by 7,5 points, to 37,1%.

In Europe, the Greek port of Piraeus continued to set new highs, as the 29 ships counted at its anchorage surpassed this week's count by one. Also worrying are the events in the port of Felixstowe, which concentrates 40% of containerized imports in the United Kingdom, where, like the ports of the USWC, most container ships transport manufactured products from export centers in China. from toys, fitness equipment, electrical products and clothing to frozen foods.

Source: blueberriesconsulting.com

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