Port Congestion # Vessel Cancellation

2022-07-12 17:07:44

Affected by the epidemic and inflation, consumers' online shopping demand has continued to decline, and sellers' shipments have decreased, which has also led to a shortage of goods in the shipping market.


However, contrary to expectations, the port congestion situation is still serious. Affected by the epidemic and the strikes of workers in many countries, the problem of port congestion has spread to the world again. And to make matters worse, extreme weather such as typhoons has also exacerbated the situation.


In addition, with spot prices of sea transportation plummeted and containers demand down year-on-year, carriers have moved to protect profitability. More and more carriers are shifting vessels to "higher profit" routes, making some routes transactions become "ghost" services without designated vessels.


According to the latest data released by Drewry, the world's three major shipping alliances have cancelled a total of 61 voyages in the next five weeks (weeks 27-31). Among them, the 2M alliance and THE alliance have the most cancelled voyages with 23 voyages; the ocean alliance has the least cancelled 15 voyages.


Despite further declines in freight rates, carriers are still struggling to maintain high rates to ensure profits. Customers need to consider many factors in this complex market, finding a more suitable transportation way, schedule and cheap price to arrange the goods. OHL is confident that we can provide you with the most satisfactory service!


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