Logistics Briefing Weekly

CHINA

• Some agents have informed us that there is already talk of a possible additional GRI starting in week 38. No shipping line has confirmed this information yet.
• There are still some spaces with MSK, but agents are reporting increasing levels and some POLs with overbooking.
• Several base ports such as Ningbo and Shanghai are experiencing congestion, which has caused delays in the planned itineraries of the vessels.
• For heavy cargo, agents indicate that booking should be arranged in advance, as shipping lines are limiting their approvals.

Golden Week China

Did you know that every October 1° to 7, China grinds to a halt for an entire week? Golden Week holyday days in China brings factories and ports to a halt, affecting global logistics with delays and high costs. The supply chains of companies in America and Europe will be affected by product shortages, delayed shipments and low space availability, reviewing inventories and establishing more robust warehousing strategies is a smart solution. Nowports will help you minimize the impact and manage your shipments in a timely manner.

Blank Sailings

WHL/YML/PIL: SA8 second vessel of Sept.

COSCO/OOCL: WSA5 first vessel of Sept.

MSC/HPL/ONE/HMM: Omit Ningbo port for first vessel of Sept.

CMA/COSCO/EMC: SA8 second vessel of Sept.

Nowports Team!

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Container Carrier Profits Soar on Record Volumes, Higher Rates

The global container shipping industry saw profits surge to more than $10 billion in the second quarter on record volumes and rising freight rates after Red Sea diversions, according to a new analysis.

Net income for the world’s major container carriers, including Denmark’s A.P. Moller-Maersk A/S and China’s Cosco Shipping Holdings Co., almost doubled from the first three months of the year and topped the $8.88 billion haul from the second quarter of 2023, according to a report released August 31 by industry veteran John McCown.

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Some origin and transit points are already struggling with congestion while capacity there can only be secured by paying premium rates, warned Hong Kong-based logistics provider Dimerco in its latest market update.

A lot of lift has already been snapped up by large e-commerce firms that have signed-up peak charter flights out of Asia, especially from China, further crimping available capacity, reported Dimerco’s analysts.

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