The world had been facing the greatest issue of container shortage at the ports after being hit by the Coronavirus. The problem made a huge impact on the imports and exports causing the delay in deliveries for over 3-7 days. There were times when ships had to steady beside the ports to due to heavy congestion. Ease to this condition is a sigh of relief all around the world.
What are the Easing signs of Container Shortage by CAx?
Asia has a huge exportation service, and facing a container shortage issue was the biggest challenge every country was facing. According to various reports after the Chinese New Year, the conditions are getting better with a 56% increase in the availability of containers at various China ports including Qingdao, Ningbo, Shanghai, and Dalian. Operating with more containers has effectively shown growth in the trading business, leading to a small hike in the market. Although it finally calls for lowering the rates of the container but, it has not happened yet! The cost of containers is still high and people are still pre-booking the containers to stay on the safe side. Since the global container circulation is improving China’s Container Availability Index (CAx) has also shown evident signs of improvement.
Suez Canal blocked: What are the impacts?
Just when the world was finally taking a sigh of relief Suez Canal blocked after ships aground. As the ship got stuck, it blocked the entire width of the Suez Canal which is a way for about 10% of global shipping traffic. This incident disrupted the system and has caused a delay in global supply chains. All the importers who have a shipping path through Suez Canal will have to face delays in the shipments for the next few days, till everything is again brought back to the track.
Has Ocean Network Express suspended all the imports taking place in Myanmar?
Import bookings into Myanmar have been suspended by Ocean Network Express after the incident where the Military staged a coup in the country and faced heavy protest thereafter. The protestors have been causing continuous disruption. Due to suspension container lines like the K-line, NYK, and MOL have been majorly affected.
Import Surge at Port NY-NJ
Due to recent congestion caused around the globe, major storage yards standing near Ports of New Jersey and New York had started looking for a place where they could store empty containers. This act has majorly affected their ability to deliver the imports in the stipulated time. To solve the respective issue, many container providers have pledged to the public at the port to step ahead into a plan where they will add more than 1100 containers by the start of summer.
After being hit by a serious backdrop of container shortage, all the countries around the globe have started taking action towards the betterment of the situation. Through a different set of rules and strategies, the issue of container shortage has started resolving. The importance of circulating the containers around has surged away into preparing a better system to make the flow of importation and exportation easy and smooth.