+
 Container Freight rates to increase on more China lockdowns
PORTS & SHIPPING

Container Freight rates to increase on more China lockdowns

The number of container ships waiting off Qingdao port continues to rise as the country doubles down on its Covid Zero policy, adding more delays to an already strained global supply chain.The increased delays across China are expected to increase freight rates.

According to data, nearly 72 vessels were spotted off Qingdao port in Shandong, which almost doubled at the end of February. The increased delays across China are expected to increase freight rates.

This year, the volumes of container ships are being exacerbated by lockdowns aiming to curb new coronavirus outbreaks.

Salmon Aidan Lee, head of Wood Mackenzie, told the media that the Covid-19 pandemic situation has worsened in the past few days at Qingdao. He expects freight rates to increase because of increasing delays.

There is also a growing backlog of containers off Shanghai Ningbo and Zhoushan ports. There were 262 ships, up from 243 a week ago. However, the situation in Shenzhen and Hong Kong has eased a bit, down to 162 vessels.

The rapid spread of the pandemic had already strained supply chains reeling from the Russia-Ukraine war. Shipping lines like AP Moller-Maersk have cancelled their services to Russia and halted some rail shipments from China into Europe.

China has locked down Shenzhen and the northeast province of Jilin to control the pandemic, threatening technology and auto manufacturing output. The Yantian container port operations are continuing normally.

China's zero-tolerance policy has led to several partial closures of ports over the past year, exacerbating concerns about disruptions to supply chains and increase in production costs. The surging price of global oil and gas due to the Russian-Ukraine are increasing inflation risks in China as factory costs remain high.

Image Source

Also read: Mangalore port's container terminal to begin operations by March-end

The number of container ships waiting off Qingdao port continues to rise as the country doubles down on its Covid Zero policy, adding more delays to an already strained global supply chain.The increased delays across China are expected to increase freight rates. According to data, nearly 72 vessels were spotted off Qingdao port in Shandong, which almost doubled at the end of February. The increased delays across China are expected to increase freight rates. This year, the volumes of container ships are being exacerbated by lockdowns aiming to curb new coronavirus outbreaks. Salmon Aidan Lee, head of Wood Mackenzie, told the media that the Covid-19 pandemic situation has worsened in the past few days at Qingdao. He expects freight rates to increase because of increasing delays. There is also a growing backlog of containers off Shanghai Ningbo and Zhoushan ports. There were 262 ships, up from 243 a week ago. However, the situation in Shenzhen and Hong Kong has eased a bit, down to 162 vessels. The rapid spread of the pandemic had already strained supply chains reeling from the Russia-Ukraine war. Shipping lines like AP Moller-Maersk have cancelled their services to Russia and halted some rail shipments from China into Europe. China has locked down Shenzhen and the northeast province of Jilin to control the pandemic, threatening technology and auto manufacturing output. The Yantian container port operations are continuing normally. China's zero-tolerance policy has led to several partial closures of ports over the past year, exacerbating concerns about disruptions to supply chains and increase in production costs. The surging price of global oil and gas due to the Russian-Ukraine are increasing inflation risks in China as factory costs remain high. Image Source Also read: Mangalore port's container terminal to begin operations by March-end

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?