The massive road freight congestion on the Vietnam-China border is causing major headaches for intra-Asia cargo flows, with planes, and now trains, helping pick up the slack. On Tuesday, Alibaba logistics unit Cainiao said it had launched a daily charter flight between Ho Chi Minh City and Nanning to “safeguard” the cross-border...
Intra-Asia freight rates from China are soaring as forwarders discover “it’s not just Maersk” giving them the cold shoulder. One forwarder in Shanghai told The Loadstar that 90% of container vessels departing China’s ports were delayed – bottlenecks in destination markets the main culprit. He added: “After a period of soft rates for...
The scale of the improvement in the liner industry’s fortunes was laid bare today when OOCL released its first-quarter operational update showing its average revenue per container, across all trades, had increased 58.3%, year on year. This was accompanied by a 28.3% year-on-year increase in volumes, which led to OOCL posting provisional...
What a major shipping line called the “black swan” container shortage has hit intra-Asia trades as carriers prioritise transpacific profits. With some 30m teu carried each year, the intra-Asia tradelane is the largest in the world, comprising around 100 port pairs. Costs have traditionally been kept in check, there’s been less carrier consolidation...
Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months. Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates...
