Zencargo Market Update: 5th December
Dec 05, 2022
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Dec 05, 2022
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Given the pattern of falling rates and rising capacity which has transpired over the preceding months, there has been a surprising development this week as markets saw an uptick in demand. This growth in demand is largely attributed to a rise in Intra-Asia and Far East to Europe trade as shippers concentrate their bookings in the lead up to holiday season.
While this rise in demand for the first half of December has not been reflected by an increase in rates, the severity of the decline has been notably weaker than seen in previous weeks. As shippers consolidate bookings in an attempt to avoid disruption from Christmas and New Year holidays. It also reflects a cautious approach to the impact the upcoming Chinese New Year will have on supply chains amid China’s Covid regulations and testing, which are expected to exacerbate the already inevitable delays.
Last week, US president Joe Biden intervened in the industrial dispute between 4 railway unions and various railway operators, by signing legislation to prevent a legal strike from the unions ahead of December 9th. Acting before the December 9th cut off was critical as it was the date from which workers could legally begin to strike, with crippling consequences for the US economy. Railway unions will now be forced to accept an agreement which was presented to them by rail operators in September and will face legal action if they attempt to strike. The move by Biden illustrates how significant the impact of a potential strike would be on US supply chains and economy with analysts estimating it would cost $160 billion and put 700,000 jobs at risk.
If you’re struggling with the best way to approach rates for 2023, we are currently offering a free 1:1 strategy rates consultation to support shippers with advice on everything from seasonality trends to different rate options. To secure your spot please click here.
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.
December 6th – Finland, Spain
December 8th – Albania, Andorra, Austria, Italy, Liechtenstein, Macedonia, Malta, Monaco, Portugal, San Marino, Spain, Switzerland*
December 13th – Malta
December 24th – Austria*, Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Luxembourg, Slovakia, Sweden
December 25th – Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
December 26th – Austria, Belgium*, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France*, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Romania, Slovakia, Slovenia, Spain*, Sweden
*Not in all regions
The route ahead
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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