The shippers are in for struggle yet another time, with the market buzzing in speculations of liners planning of ‘blank sailing’ during China’s Golden Week holiday in early October to extract maximised profits.
The record-high rates of the latest weeks, as can be seen in several global indexes, such as Shanghai Export Containerized Freight Index (SCFI), Drewry’s composite World Container Index, Ningbo Containerized Freight Index (NCFI) and Freightos Baltic Index (FBX) are not expected to decrease in the next months.
With the pre-golden week rush starting usually three to four weeks before the main event, and with importers speeding up their production processes to ship their products out of China on time, constraints in ocean freight and land transportation increase the chance for cargos to be rolled and for deliveries to be postponed, according to the largest container line in the world, Maersk.
The strategy plans to significantly tighten space on vessels for the shippers close to the national holiday in China by skipping ports or even entire routes owing to lower demand after shut down and hence further push the rates higher.
Even though blank sailings close to the Golden week are a traditional practice to make up for lower demands during the winter months, this year, the cargo owners expected the liners to maintain the deployment of the entire fleet along transpacific routes after the pandemic, owing to the strong demand and elevated rates of freight transportation.
This year’s Golden Week might as well increase the number of repercussions in ocean freight and inland transportation across multiple trades and regions.
With the Ningbo terminal shut down ensuring reversal of slight decrease in market rates in the past few weeks and increase in forward bookings on routes to the west coast of the United States, companies are expected not to let go of this opportunity to bump up the freight rates further up.
Reference:
https://container-news.com/chinas-golden-week-to-trigger-new-round-of-void-sailings/
In the quest for increased sustainability, a lot has been made of the potential to use bio-based raw materials, captured CO2 and recycled plastics as raw materials for new chemicals. But what about using biotech processes to manufacture chemicals? Could it offer a more sustainable alternative to traditional petrochemical processing, and be more amenable to biobased raw materials?
High duties on imports from Canada, Mexico and China raise problems for international supply chains.
Advanced Drug Delivery Systems Market, valued at USD 234.84 billion in 2023, is on a trajectory of significant growth, projected to reach USD 352.01 billion by 2032
The U.S. Food and Drug Administration on January 15, 2025, announced its decision to ban Red Dye No. 3 also referred to as Erythrosine.
Targeted drug delivery revolutionises treatment by focusing medications on specific tissues, reducing the impact on healthy cells. Scientists enhance this precision with carriers like microspheres and nanoparticles, controlling release and absorption. Microspheres, made from biodegradable proteins or polymers, sustain drug release, making them ideal for targeted therapies, especially in oncology. Beyond drug delivery, microspheres open new possibilities across industries—from next-gen coatings to thermal insulation. With tailored sizes, shapes, and materials, they drive advancements in pharmaceuticals, advanced materials, and more.
The U.S. Food and Drug Administration (FDA) has proposed a new rule to require standardized testing of talc-containing cosmetics for asbestos. The FDA noted that this move aims to protect consumers from potential harm posed by asbestos, a known carcinogen linked to serious illnesses such as lung and ovarian cancers.
As one of the most significant holidays in China, Chinese New Year (CNY) profoundly impacts global shipping, logistics, and supply chains. Scheduled to begin on January 29, 2025, this festive period lasts up to two weeks, with many factories, ports, and businesses shutting down or operating with limited staff. Understanding the implications of CNY on your supply chain is critical to avoid disruptions and ensure seamless operations.
Disruptions in the Red Sea, Suez Canal, and Panama Canal have driven up shipping costs, sending shockwaves through the global economy.
It was truly heartwarming to see so many clients and associates visiting our stand, even as late as at the end of the show, sharing drinks and engaging in conversations.