Current Conditions

Current Conditions

Analysts are announcing that container shipping costs and service levels are at risk of spiraling out of control. As well as a massive withdrawal of capacity since the start of the Covid-19 crisis – 468 blanked departures on east-west (US to China) trades – the analyst said schedule reliability had been “extremely low”.

The blanked sailings and poor reliability has naturally resulted in widespread rollovers, with up to 83% of importers advising that they had seen their cargo rolled.

“So our view is that rollovers are a key issue which has been exposed by the recent crisis – this is the new reality of a much more concentrated marketplace in which shipping lines have more power,” analyst said

Importers and exporters world wide are being asked to brace for continued disruptions.

Read the full article here..

Source: gcaptain.com

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