The cost of maritime freight that is being negotiated for shipments between Asia and Mexico next September is being driven upward by a strategy of blank sailings by shipping lines.
According to Nicolás Portenza, president of Eternity Group México , the rate reached six thousand dollars per container , after freight had eased pressure on the cost of transporting cargo on this maritime route starting in the second quarter of this year.
“It wasn’t a coincidence. The maritime lines decide four weeks before the Golden Week in China (from October 1 to 7), to reduce capacity and apply a strong GRI (General Rate Increase) of two thousand dollars per container as of September 1,” Portenza told through a post on LinkedIn.
He himself shared the complete photo of the blank sailings already announced by the different maritime lines . “Only in the first week of implementation of the new GRI, three ships were “laundered” for an approximate impact of 20 thousand TEUs (20-foot containers) in a period of increased demand due to the end-of-year holiday season and the closure. from Chinese factories in October,” he indicated.
Likewise, he stated that this situation generates cargo backlog (reservation) at origin and a cascading effect of weekly “rolls”, also considerably increasing transit times and the instability of services (surprise transfers).
Mexican ports located in the Pacific have experienced an upward trend in terms of receiving import containers, mainly from the Asian continent.
The country’s port authority states in its statistics report that, in the first half of this year, these ports have received one million 301 thousand 584 20-foot containers (TEU) in import service , 14% above what was registered in the same period of 2023.
Golden Week
On the other hand, RH Shipping & Chartering explained the importance of Golden Week for maritime trade and the forecasts that importers should take into account:
Date: October 1 to 7, 2024.
Location: China, with celebration throughout the country.
What it is: Golden Week is a national holiday in China that has been celebrated since 1999. It was instituted by the Chinese government to stimulate domestic tourism and the economy, and commemorates the founding of the People’s Republic of China on January 1. October 1949. During this week, most factories, companies and logistics services stop operations, causing a significant impact on global supply chains.
Impact on global markets and logistics
Golden Week directly affects global markets, especially the logistics sector, due to the interruption of production and delays in shipments. During this week, ports and shipping routes in China experience high congestion, increasing transit times and operating costs for companies that depend on international trade. This pause in operations can cause a domino effect that affects supply chains globally.
Tips for importers and exporters
Advance planning: Be sure to schedule your shipments at least a month in advance to avoid delays caused by the suspension of activities.
Inventory Optimization: Increase your inventory levels before Golden Week to mitigate the impact of any supply chain disruptions.
Coordination with suppliers: Maintain constant communication with your Chinese suppliers to confirm closing times and resumption of activities.
Explore alternatives: Consider using less congested shipping routes or exploring different container options to minimize delays.
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