Oversea Freight Update – February
Since the covid outbreak, moving goods internationally has become an experience often fraught with congestion, a lack of equipment and delays. Below is a summary of the major regions.
There is not much respite in Asia/Europe ocean freight conditions, following Chinese New Year. Ocean Carriers are continuing to keep the rates high, even though pricing has usually dropped by now as demand softens.
This could be a direct result of backlogs being around since prior to the Chinese holiday or may mean that high demand and market conditions are ongoing for some time.
For now, a lack of equipment, little space and high rates continue.
Post Brexit delays are still commonplace, although some of the initial customs issues have improved – imports in particular. However, rates are still high due to a lack of equipment availability, which is reflective of European truckers being reluctant to enter the UK and the current driver covid testing.
The US has been majorly hindered by port congestion and transport shortages over recent months, which has spread from the West Coast to Eastern regions now. High demand from a long peak season led to the congestion at terminals and ports and delays are inevitable when moving goods throughout.
Export bookings to the USA are tight for space, which could result in a 2/3 weeks delay in shipping.
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