Chinese NY Over Capacity

Container bookings from Asia to Europe are running over capacity in the build up to the Chinese New Year (CNY) period, which starts at the end of this month. The capacity problems are causing a spike in spot rates and space issues, with suggestions that some steamship lines have introduced roll pools.

One carrier has reported that they have received bookings taking them 200% over their capacity. This follows news that all of the main carriers were already at 100% capacity in the first week of 2017.

Traditionally the period leading up to CNY is one of the busiest of the year as manufacturers rush to move product before the region effectively shuts down. However, the reduction in capacity, which has been caused by last year’s demise of a major shipping line and the merging of other carriers, along with a relatively early CNY, means this year’s situation has become more difficult.

Additionally, there have been a number of cancellations of sailings for the period that immediately follows CNY which may result in ongoing capacity issues and rates continuing to rise.

We are closely monitoring and working hard to manage the situation and will keep our customers advised. However if you have any queries or concerns please do not hesitate to contact your local Uniserve representative.

 

 

 

 

<< PLEASE SHARE THIS STORY ON SOCIAL MEDIA EASILY BY CLICKING THE ICONS TO THE LEFT.

More News…..

Government’s Customs Union Stance

Ahead of a symbolic vote, the UK government has this week reiterated its commitment to leaving the EU's customs union, after last week suffering defeat on the EU Withdrawal Bill. Prime Minister May, whilst on a visit to the West Midlands, said leaving the customs...

Trump Spat Delaying COSCO Takeover?

Recent suggestions have indicated that the current spat between Donald Trump and China may be having an affect on COSCO Shipping's takeover of fellow steamship line - OOCL. The Chinese state-owned shipping line had moved closer to incorporating the publicly-owned Hong...

New UniOcean Schedule Released

The latest instalment of the UniOcean Lines Asian Service Directory has just been released, which includes all inbound and outbound loops and services currently available in the trade. In total, the in-depth schedule offers all 19 Asian origin loops, that are...

Share This

Please Share This Article

It only takes a couple of clicks and it would be greatly appreciated! Many Thanks