Welcome to the SeaRates monthly container logistics update. Here you get the latest industry updates together with special insights into the cheapest and most expensive locations to buy and lease containers.
Shipping companies prepare themselves for turbulent times
Have you been worrying about the Chinese New Year and how it’ll impact your business? If so, you’re definitely not the only one. In our latest survey, we also asked the rest of the shipping industry about its concerns. And more than two-thirds of the respondents expect the Chinese holidays in February to further disrupt the industry.
But the shipping companies haven’t just been twiddling their thumbs. Many have reacted to the uncertainty caused by the Lunar New Year. Here’s how:
Two out of three said they planned ahead of the Chinese New Year factory closures by ordering inventory earlier.
And that’s not all. Many also changed the way they sourced containers. One in four said they swapped to using SOC containers, and just as many decided to buy boxes to ensure they had enough capacity.
In January, we’ve also seen the ripple effects these preventive measures have had on the industry. 👇
"Due to strict COVID lockdown policies, it’s unclear if China will allow millions of workers to travel for holidays this year. However, shippers and forwarders still expect output from OEMs to decline significantly in February," explains Head of SeaRates Operations, Sergey Dzhashitov, and continues:
"They’re, therefore, planning accordingly by shipping early. This is no doubt a factor in some of the spot freight rate increases out of China we’ve seen in January."
Global Trading Insights
See below a list of the most expensive and cheapest containers available on our trading marketplace in February.
Global Leasing Insights
See below a list of the locations with the highest/lowest pickup charges and free-days on our container leasing platform in February.
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