Zencargo Market Update: 17th July

China

Ocean

• China’s exports fell by the greatest amount in 3 years in June.
  • Exports fell by 12.4% year-on-year, a result more severe than analysts had predicted. This follows a drop of 7.5% year on year in May.
  • These recent figures have forced analysts to rethink their predictions on China’s growth  for the remainder of the year as policymakers contemplate stimulus measures. 
  • This fall in exports has been attributed to weak global demand and high inventory levels for retailers in Europe and North America. 

Air

Central China to USA and Europe 

• From SHA to Europe rates and the US rates have increased.
  • Rates have increased due to C-Check’s (circraft compliance checks) and poor weather restricting the amount of available flights. 
• From NGB to Europe rates have increased while to the US rates have decreased.
  • Final rate is offered on a case by case basis.

North China to USA and Europe 

• From TSN to Europe and the US, rates have remained stable this week. 
• From PEK to Europe and the US, rates have remained stable this week. 
• From TAO to Europe rates have remained stable this week, while rates to the US have increased slightly.

South China to USA and Europe 

• From  CAN  to Europe and the US, rates have remained stable this week. 
  • All shipments will need to be checked with the carrier for rates on a case-by-case basis. 
• From SZX to Europe rates have remained stable, while to the US, rates have decreased slightly.
  • All shipments will need to be checked with the carrier for rates on a case-by-case basis. 
• From XMN to Europe and the US rates have remained stable.
  • All shipments will need to be checked with the carrier for rates on a case-by-case basis.

USA

Ocean

• Here is an update on port congestion in the US.
  • The Ports of Los Angeles and Long Beach currently have 8 vessels waiting to berth, meanwhile Oakland has 7.
  • The  congestion on the West Coast is due to improve in the coming days as the backlog, partially caused by the strikes in Canada, is cleared..
  • On the East Coast, Norfolk currently has 19 vessels waiting to berth. This is due to vessel bunching and ships are being diverted to neighbouring ports. 

Canada

Ocean

• The strike by the  ILWU Canada has been called off after a government appointed mediators and the terms were tentatively accepted by the union and the British Columbia Maritime Employers Association (BCMEA)
  • While an agreement has been reached, ports are still working through the backlog of ships with Vancouver showing 13 vessels waiting to berth and 6 currently waiting at Prince Rupert.

Benelux

Ocean

• The Port of Rotterdam has welcomed the tightening of the IMO sustainability ambitions.
  • The IMO (International Maritime Organisation) recently announced they aim to achieve climate – neutrality by 2050. 
  • This supplements the IMO’s indicative checkpoint goals of reducing GHG emissions by 20% by 2030 and 70% by 2040, when compared to a 2008 baseline. 
  • The Port of Rotterdam has been striving to lead the way on minimising port operations emissions in Europe. 

UK

Ocean

• The Port of Tilbury, a leading industrial hub for London, is seeking to have the first hydrogen operations for the country. 
  • This will be implemented with the support of an energy company RWE and Mitsui, a Japanese investment company.
  • Part of the work will involve a proof of concept for transitioning port infrastructure and equipment from fossil fuels to green energy, as well a study into a 10-megawatt green hydrogen plant.

Road/Rail

• The RHA (Road Haulage Association) Chairman, Moreton Cullimore, has called on the UK Government to provide more adequate parking facilities for HGV drivers.
  • Moreton commented,  “ We don’t have enough parking spaces for trucks out on the roads, end of story.”
  • This comes as the industry is currently struggling to fill driver seats, with many professionals citing  poor conditions and pay contributing to this.

European Bank Holidays

We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.

July 21 – Belgium

July 25 – Spain*

July 28 – Spain*

Aug 5 – Croatia, Spain*

Aug 7 – Ireland (Eire)

Aug 14 – Romania*

Aug 15 – Austria, Belgium, Croatia, Cyprus, France, Germany*, Greece, Italy, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovenia, Spain

Aug 20 – Estonia, Hungary

Aug 29 – Slovakia

Sep 1 – Slovakia

Sep 2 – Spain*

Sep 4 – Luxembourg*

Sep 6 – Bulgaria

Sep 8 – Malta, Spain*

Sep 11 – Spain*

Sep 15 – Slovakia, Spain*

Sep 18 – Switzerland*

Sep 20 – Germany*

Sep 21 – Malta

Sep 22 – Bulgaria

Sep 24 – Austria*

Sep 25 – Switzerland*

Sep 27 – Belgium*, North Cyprus

Sep 28 – Czech Republic

Oct 1 – Cyprus, San Marino

Oct 3 – Germany

*Not in all regions