Ningbo-Zhoushan COVID-19 Lockdowns Quash China’s Hopes for Normalcy
Chinese ports have seen an overall dip in import and export ocean shipment volume over recent weeks following the imposition of COVID-19 lockdowns.
As of October 21, the 14-day average ocean shipment volume at the Port of Shanghai (including import and export shipments) is down 15% since the start of October. At Shenzhen, volume is down 21% over the same time period.
Ningbo-Zhoushan has taken the largest hit as reports of increasingly stringent lockdowns were reported in October, with volume now down 29% compared to the start of October.
The volume of shipments travelling from China to the United States took a dip over the past month as delays continue to climb. As of 21 October the 14-day average shipment volume for shipments travelling on this lane is down 17% compared to the beginning of October. The 14-day average is down 29% compared to the recent peak seen towards the end of September.
Transit times for ocean loads traveling from China to the United States continue to climb in recent months.
The 60-day average total transit time for loads travelling along this lane is now around 49.9 days across the entire journey as of 21 October.
This is up 15% from the recent low at the beginning of August, but still remains down 10% compared to the peak seen in March of this year amidst the COVID-19 lockdowns earlier.
While port volume is slowing over the past months, dwell time at Chinese ports does not appear to have been impacted.
(Port Technology)
Latest
Thanksgiving Holiday Weekend Proved the Omnichannel Customer Has Fully Matured
Now widely reported, last weekend’s Black Friday and Cyber Monday sales were record-breaking on all accounts. Nearly 200 million customers hit physical retail stores over the Thanksgiving holiday weekend according to NRF, a feat all of its own and a validation of the brick & mortar store in an age of omnichannel sales strategy. […]
Consumers Seek More Value from Travel and Hospitality
A recent report from PwC suggests that revenue for hotels will continue to go up over the coming months. This is great news for hoteliers who survived the 2020 pandemic and are looking to recoup costs. What’s more, studies also suggest that customers are happy to pay for these increased prices, even at inflated rates. […]
Are Colorado’s Crafty Healthcare Incentives an Effective Strategy to Lower State Care Costs?
Colorado has some of the most expensive healthcare in the U.S., which already spends more than any other country on administering healthcare. Some studies place it in the top half of most expensive states for care in the U.S., while others place it in the top 10. In 2018, for example, Colorado’s average price per […]
