Ocean freight picking up after Chinese New Year
Demand for ocean shipping services out of Asia is now picking up after the Chinese New Year holidays, according to one leading forwarder executive.
But volumes on key trades are still subdued compared to a year earlier and analysts are expecting further declines in container spot freight rates before demand ramps up for the summer peak season.
“Demand for ocean freight still varies, and is dependent on the trade lane. We are currently seeing the strongest demand in the intra-Asia trade lanes,“ Karsten Michaelis, Head of Ocean Freight, Asia Pacific, DHL Global Forwarding (DGF), told Lloyd’s Loading List.
“Compared to last year when the bookings picked up immediately after CNY, the demand has been relatively slow this year (on Asia-Europe). This could be partly attributed to the fact that most factories seem to be closed for a prolonged period of time this year.”
Steve Wyeth of SDW, the leading recruiter to the shipping, freight forwarding & logistics industry commented “After a busy January, we certainly have seen our customers recruitment requirements drop off towards the end of February and thus far through March so far, however speaking to our customers, who in the main are freight forwarders are positive that volumes will return to expected levels very soon, which is good news for them, us and the UK economy as a whole.”
Source: Lloyds List