Zencargo Market Update: 22nd April 2024
Apr 22, 2024
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Apr 22, 2024
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Over the past week, tensions have escalated in the Middle East as the MSC Aries was seized in the Hormuz Strait. It is unlikely that the conflict will resolve anytime soon.
The Hormuz Strait is a key passage for ships arriving at Dubai, which has been a key port for carriers since the Red Sea Crisis. It is also a critical passage for the transportation of oil, therefore if the situation evolves, this could have an immediate impact on oil prices.
Geopolitical events are proving to have a greater impact on shipping rates than the supply and demand equation. Carriers are also confirming an early peak season which will lead to higher rates for the coming weeks. Vessel utilisation is high and cargo such as white goods, solar panels, electric vehicles and garden furniture are showing high booking levels.
Central China to Europe
North China to Europe
South China to Europe
Central China to USA
North China to USA
South China to USA
Ocean
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.
April 25 – Italy, Portugal
April 27 – Netherlands, Slovenia
May 1 – Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Polan, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
May 2 – Romania*, Slovenia, Spain*
May 3 – Bulgaria, Cyprus, Greece, Poland, Romania
May 4 – Austria*, Bulgaria, Cyprus*, Latvia
May 5 – Bulgaria, Cyprus*, Greece, Lithuania, Netherlands*, Romania
May 6 – Bulgaria, Cyprus, Greece, Ireland (Eire), Latvia, Romania
May 7 – Cyprus*, Greece
May 8 – Belgium*, Czech Republic, France, Slovakia
May 9 – Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, Netherlands, Sweden
May 10 – Belgium*, Denmark*
May 15 – Spain*
May 17 – Spain*
May 18 – Sweden*
May 19 – Denmark, Estonia, Finland, Germany*, Netherlands, Poland, Slovenia, Sweden
May 20 – Austria, Belgium, Denmark, France, Germany, Hungary Luxembourg, Netherlands
May 24 – Bulgaria
May 30 – Austria, Croatia, Germany*, Poland, Portugal, Spain*
May 31 – Spain*
*Not in all regions
The information that is available in the Zencargo Market Update comes from a variety of online sources, partners and our own teams. Click below to learn more about how Zencargo can help make your supply chain your competitive advantage.
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