Volumes dip at Chinese ports among new Covid lockdowns
Import and export ocean shipment volume at Chinese ports over the past weeks has declined as strict COVID-19 lockdowns have returned in tourist towns.
FourKites reports its data show that as several large Chinese cities have been rolling out stringent lockdown policies, volume at the Port of Shanghai has started to decrease since the peak in mid-July, down 18 percent since then.
The 14-day average ocean shipment volume is now down 11 percent compared to March 12th (the day before lockdowns went into effect) and down two percent week-over-week for shipments tracked by FourKites.
This is up from mid-May, where shipment volume was down as much as 25 percent over the same period. Other Chinese ports are up since March 12th but have been trending down with the volume at the Port of Shenzhen up 19 percent (down 46 percent week-over-week) and the volume at the Port of Ningbo-Zhoushan up 13 percent (down 13 percent week-over-week) compared to March 12th.
FourKites has continued to see recovery in volume traveling from China to the United States. The 14-day average shipment volume for loads traveling from China to the United States is now down 24 percent compared to levels seen on March 12th and up three percent week-over-week.
Volume along this lane had previously reached a low of 56 percent in mid to late April. Delays remain elevated, with the 14-day average percentage of shipments delayed along this lane now at 38 percent compared to 39 percent one week ago and highs of 43 percent seen in mid-August.
Transit times for loads traveling from Shanghai to the United States have been on the decline in the past two months but remain elevated compared to before the lockdowns went into effect.
The 60-day average transit time for shipments traveling from Shanghai to the United States is now at 61.6 days after peaking in early July. Since then, transit times are down 18 percent, but are up 23 percent from March 12th. Currently, transit times are down two percent from last week.
Dwell times for import shipments for Chinese ports has shown some signs of recovery over the past weeks. Import dwell time at Chinese ports are near the same level as before the lockdown, with the 14-day average ocean dwell time tracked by FourKites is now at 3.9 days.
This is a three percent decrease compared to March 12th and a decrease of one percent week-over-week. This is 39 percent lower than the peaks seen in late April. The 14-day average ocean dwell time for export shipments tracked is now at 6.2 days, which is down nine percent compared to March 12th and up three percent week-over-week.
FourKites has also continued to see a recovery in over-the-road and rail/intermodal shipment volume in the city of Shanghai. The 14-day average shipment volume for loads being delivered to Shanghai is now down 61 percent compared to March 12th but has increased 39 percent over the past week.
Current over-the-road shipment volumes are 225 percent higher than the low in mid-May. Volume being picked up from Shanghai is still down 79 percent compared to March 12th and down five percent week-over-week. However, there has been a 67 percent increase in shipment volume since the low in mid-June.
Source: Inside Logistics
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