It appears that many of the ships waiting offshore in Shanghai are not waiting to unload, but to get new cargo. shipments out of China seem to be plummeting.
It’s leading to blanked or rescheduled sailings.
Perhaps the avalanche of post-COVID goods for the US and the EU has stopped. Perhaps we have enough inventory here and in Europe. If so, we should soon see the queues of waiting ships at US ports drop to more normal levels, and the same with Europe.
It’s getting to look more likely that a recession might appear in the US, and I think the same will happen in Europe. the Ukraine instability is bound to cause consumers to cut back and try to spend less and save more. In both places, that is likely to induce a recessionary trend. Consumer spending is a major part of economic activity in these countries.
R$at3es for container shipping from Asia to the US and Europe are still high. How long will it take for them to plunge down?
By Mike Wackett 25/04/2022Carriers adopt ‘hardcore’ blank sailing strategy as export bookings plunge – The Loadstar