Market Update – December 2020

//Market Update – December 2020

Market Update – December 2020

In what has been an extremely challenging year for most, majority of the world has begun to emerge from lockdown, or at least continues to persevere with a renewed sense of hope.

The global shipping industry is certainly feeling the pinch, after supply chains around the world were severely disrupted over the course of the year.

An uneven distribution of international trade has left importers and exporters grappling with equipment shortages, delays and of course increasing freight rates. Shipping lines are expecting high import volumes well past Christmas and possibly past Chinese New Year (mid February).

Whilst the Industrial Action on Australia’s waterfront remains on hold until the 1st December, our neighbours in New Zealand are the latest country to fall victim to labour shortages, delays and congestion surcharges.  Vessels are frequently omitting Auckland and offloading cargo in Tauranga, however this is taking it’s toll on other NZ ports and the rail network too.

The repercussions of Australia’s Industrial Action back in September are still being felt and Carriers continue to swap ships and change routes to try and make up lost time. Peak Industry bodies are working closely with the Government in a bid to see this resolved before any further stoppages take place.

We understand berthing delays/port congestion in Sydney has improved significantly. DP World advised they now have no delays with their scheduled arrivals. The situation at Patrick Terminals has also improved with most of their vessels calls no longer omitting Sydney.

These shipping concerns are not isolated to the Oceania region, but are being felt by importers and exporters all across the world. Empty containers through China and South East Asia are becoming increasingly scarce. Rates between Asia and Europe are at an all-time high and ships are even diverting from the UK and discharging containers in Rotterdam, leaving many UK importers unable to achieve vital Christmas sales. India and Sri Lanka are also impeded by labour shortages, bottlenecks and a lack of empty equipment.

We anticipate Patrick Stevedore will release a statement soon as the looming truce with the Maritime Union of Australia draws to an end.  Until then, we thank you for your patience and understanding as we persist finding solutions for you during these unpredictable and challenging times.

If you have any questions or concerns in the meantime, please let us know.

Kind regards,

 

The Aurora Team

2020-12-09T10:35:42+10:00 December 9th, 2020|Uncategorized|0 Comments
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