Port congestion! Take up 12.5% of the global transportation capacity out of thin air! More than CMA CGM\'s total capacity
Currently, how serious is the global port congestion? According to foreign media reports, global port congestion and many container ships lined up to enter the port, offsetting the capacity of more than 3 million TEU, which is equivalent to 12.5% of the global capacity-this offset capacity has surpassed the world's third largest shipping giant. About 12.2% of the total capacity of French CMA CGM ships, equivalent to 3.5 times the capacity when Hanjin Shipping closed in 2016.
The above data is an analysis by the British shipping media Lloyd's List quoting Alan Murphy, the chief executive of the shipping research organization Sea-Intelligence.
The shipping industry insiders also pointed out that the market reported that the freight rate from China to the Western United States had dropped by more than 30%. The freight rate of the Shanghai Export Container Freight Index SCFI before the National Day holiday in China stopped rising for 20 consecutive weeks, but the decline is limited, the SCFIS settlement index remains high. Moreover, the main reason for the decline in SCFIS should be the dumping of cargo spaces by the cargo carriers. The major shipping giants are still full, with prices and volumes still not falling, and many cargoes are still waiting to be shipped.
Industry insiders pointed out that the main reason why freight rates are still high is due to the shortage of market capacity caused by port congestion and ship delays. Taking the trans-Pacific route (Asia-US route) as an example, although more ships have been invested this year, they have been influenced by port congestion, the actual capacity that can be loaded has been reduced by about 20% annually.
It is worth noting that the shipping giants put available ships into operation, although it can make up for the delayed liners by the port congestion, but because of the unresolved bottlenecks of the supply chain such as terminal blockage, it has caused more ships to queue up for entering the port, which can be said to be vicious cycle.
Therefore, some market analysis agencies pointed out in the latest report on container shipping that due to the unresolved port conditions, the Q4 ocean freight rate will continue to remain high-end, and the shipping company's fourth-quarter performance will continue to soar.