Zencargo Market Update: 3rd April
Apr 03, 2023
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Apr 03, 2023
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Optimism among carriers has been in short supply in recent months. However, this week it appears that has changed. Full ships, a stabilising spot rate and bullish charter market have put a spring in the step of the carriers, who have had dreary few months of rate erosion and abundant capacity.
Container spot rates increased on 15 of the 21 export routes tracked from the Chinese port of Ningbo. Carriers have also reported that ships are sailing with full loads with Maersk believing that the market is “finally beginning to stabilise and find equilibrium”.
Could this signal the start of a rebound?
While the US is only one market and inventory levels are only one metric, analysis of recent data released by the US Census Bureau reveals that inventories remain bloated. While the inventory levels of wholesalers had dropped by 0.4% between Dec 2022 and Jan 2023, retailer levels grew by 0.2% and manufacturers remained stable over the same time period.
These high inventory levels have also been reflected in recent data from Container Trade Statistics (CTS), showing a steep decline in imports from September to January.
So are carriers overly optimistic and reaching for any positive indications from the market? Is the inventory data out of the US and Europe lagging behind actuality? Or is capacity management beginning to stabilise the market?
It could be a combination of all three, along with a plethora of other influencing factors.Whatever the case may be, it will be interesting to see what unfolds in the coming weeks.
Central China to USA and Europe
North China to USA and Europe
South China to USA and Europe
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.
March 31 – Malta
April 6 – Denmark, Portugal*, Spain
April 7 – Austria*, Czech Republic, Denmark, Estonia, Finland, France*, Germany, Hungary, Ireland (Eire)*, Latvia, Luxembourg, Malta, Netherlands*, Portugal, Slovakia, Spain, Sweden.
April 8 – Sweden*
April 9 – Croatia, Denmark, Estonia, Finland, Fermand*, Italy, Lithuania, Netherlands, Poland, Portugal, Slovenia, Sweden
April 10 – Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland (Eire)*, Italy, Latvia, Lithuania, Luxembourg, Malta*, Netherlands, Poland, Slovakia, Spain*, Sweden.
April 14 – Bulgaria, Cyprus, Greece, Romania
April 15 – Bulgaria, Cyprus*
April 16 – Bulgaria, Cyprus*, Greece, Romania
April 17 – Bulgaria, Cyprus, Greece, Romania
April 18 – Cyprus*
April 21 – Spain*
April 22 – Spain*
April 24 – Spain*
April 25 – Italy, Portugal
April 27 – Netherlands, Slovenia
April 28 – Gibraltar
April 29 – Russia
April 30 – Russia
May 1 – Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina (FBiH), Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Gibraltar, Greece, Guernsey and Alderney, Holy See (Vatican City), Hungary, Iceland, Ireland (Eire), Isle of Man, Italy, Jersey, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Montenegro, North Cyprus, Norway, Poland, Portugal, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Spain, Svalbard and Jan Mayen, Sweden, Switzerland*, Transdniestria (PMR), Turkey, UK (United Kingdom), Åland (Ahvenanmaa)
May 2 – Bosnia and Herzegovina (FBiH), Montenegro, Serbia, Slovenia, Spain*, Transdniestria (PMR)
May 3 – Poland
*Not in all regions
The information that is available in the Weekly 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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