Looming Christmas crisis due to ongoing congestion chaos
Global supply chain issues are threatening Christmas deliveries to retailers, as sustained port congestion seen in the US, and now parts of the UK, continues to disrupt shipping lines and the movement of goods worldwide.
Charlotte Cook, Head Trade Analyst, reports on the continued Containership congestion which is being witnessed around the world at ports including Zhoushan, Ningbo and Long Beach in LA. Felixstowe port in the UK is the latest port to witness delays.
Globally, there is currently a total of 334 vessels waiting comprising of over 2.2 million TEU.
“The Containership market has been under immense pressure over the last year, with Covid related pent up demand pushing consumer spending, bad weather in China and Covid related terminal lockdowns contributing to high port congestion.
Felixstowe is one of the UK’s major Container ports, having received 927 Post Panamax, 554 Panamax, 532 ULCV and 484 New Panamax Containerships since the beginning of the year. The majority of Containers into the UK are transporting manufactured goods from export hubs in China, ranging from toys, fitness equipment, electricals and clothing to frozen food, with around 40% of the UK’s containerised imports moving through the port.
Vessels are spending longer in port than usual to unload and depart due to a pile up of Containers in port, causing disruptions to liner schedules and further reducing vessel availability. Since the beginning of the month, 31 vessels have moved through Felixstowe, equating to 281,408 total TEU vessel capacity. This is 45% less than the same period in 2020, and 51% less than the same period in 2019, suggesting that the port is struggling with turnaround times.
Some shipping lines have reported that they are diverting ships to other European ports to avoid the Felixstowe bottleneck and keep vessels moving. Marchen Maersk (18,340 TEU) was sailing en route from Tanger Med, changing course from Felixstowe to Wilhelmshaven, Germany, on the 13th October in a bid for a faster discharge…”
Read the full article here.
If you would like to know more please don’t hesitate to reach out via press@vesselsvalue.com or by phone on +44 (0) 203 954 0911
About VesselsValueVesselsValue Ltd. (VV) is a leading online valuation and market intelligence provider for the Aviation and Maritime industries. VV went live in 2011 and has 2,500 users and works with over 500 global companies including major banks, leasing companies, shipowners, investment funds, hedge funds, lawyers, advisors and government regulators. The company has eight offices globally including London, Singapore, Shanghai and Hong Kong (opened this year) and over 190 employees. VesselsValue’s mission is to bring transparency and objectivity to the Aviation and Maritime markets through a wide range of services. Data and market insights are available through online access, reports, API feeds and exports, including automated values, transactions and fleet data, as well as AIS and ADS-B derived mapping & tracking, demand, utilisation and trade and people flows.Visit www.vesselsvalue.com for more information.
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| If you would like to know more please don’t hesitate to reach out via press@vesselsvalue.com or by phone on +44 (0) 203 954 0911About VesselsValueVesselsValue Ltd. (VV) is a leading online valuation and market intelligence provider for the Aviation and Maritime industries. VV went live in 2011 and has 2,500 users and works with over 500 global companies including major banks, leasing companies, shipowners, investment funds, hedge funds, lawyers, advisors and government regulators. The company has eight offices globally including London, Singapore, Shanghai and Hong Kong (opened this year) and over 190 employees. VesselsValue’s mission is to bring transparency and objectivity to the Aviation and Maritime markets through a wide range of services. Data and market insights are available through online access, reports, API feeds and exports, including automated values, transactions and fleet data, as well as AIS and ADS-B derived mapping & tracking, demand, utilisation and trade and people flows.Visit www.vesselsvalue.com for more information. |
