Christopher Thornycroft, executive vice president at Redwood, joined us to talk about the Lunar New Year and what it means for freight demand. For those unaware, the Chinese Lunar New Year holiday began Jan. 22 and typically lasts two weeks. This year, it will end with the Lantern Festival on Sunday.
China’s biggest holiday used to have a dramatic impact on U.S. transportation and the flow of goods. Now it seems more of an afterthought.
Thanks to COVID, there are no seasonal highs and lows for international shipping. There is so much demand for goods that the peak season never seems to end — and ports, railroads, truckers and warehouses are reaching the breaking point.
China’s latest maritime measure to control the spread of the coronavirus will add to the clog of containers at ports.
Steve Ferreira discusses the “rocket-powered” ocean freight market ahead of Chinese New Year.
CEO Jim Newsome optimistic about economic recovery in 2021.
“As long as there continues to be a lack of cargo and documentation handling in the ports due to the virus, our exporters and importers shouldn’t be on the hook for per diem or demurrage charges,” AgTC Executive Director Peter Friedmann said.
The Wuhan coronavirus has forced several Chinese cities into a state of lockdown, severely affecting manufacturing hubs and constricting global supply chains.
So far this February has been what we would expect. Does the normally slow month have any surprises up its sleeves?
Volumes and capacity remain flat through the first week of February. Has the freight market weathered the slowest part of the year?
