Schedule reliability on the rise despite European port congestion
Despite ongoing reports and warnings of worsening port congestion levels in North European ports, container ...
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
The Coolstar is reporting that with 30 days’ voyage time from the west coast of the US to Asia extending by a further 15 days, owing to the port congestion, some shipping lines have reportedly stopped taking perishables. As a result, airlines are picking up cheap frozen food, much of it destined for US multinationals seeking products such as ketchup and chicken wings – which are unable to be sourced locally. Japan, meanwhile, is importing frozen pork and beef. Transpacific load factors in some cases are now up to 90%, and forwarders are predicting the situation to remain – whatever the outcome of the port negotiations – for another two to three months.
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