Global shipping is extremely volatile on all major shipping corridors and ports. If you missed it, we are sharing an updated Q1 Market Forecast by region to help you plan ahead for longer lead times on inbound and outbound cargo.
Since our last post two weeks ago on this topic, there have been further developments to highlight for you:
US East Coast – last week had intermittent closures / delays due to winter weather. Port of New York / New Jersey had a delayed opening again this morning due to conditions.
US West Coast ports continue to suffer delays processing vessels (two week delays to berth), high container dwell times at the terminals, trucker and chassis shortages leading to demurrage and storage charges.
Canada – There is potential for strike action at the Port of Montreal on March 21, 2021 and possible intermittent labor actions leading up to that time. We recommend planning for alternative cargo routing for upcoming shipments.
Germany is also reporting winter weather delays for shipments originating there.
United Kingdom is experiencing higher volumes as stock replenishment picks back up (following inventory stockpiling before the end of year Brexit uncertainty). While a no-deal was avoided, there are new paperwork requirements. Ocean carriers have applied congestion surcharges here similarly as they have done in other areas with high congestion.
Please reach out to your Hillebrand representative for an updated Q1 Market Report or to discuss the impact to your business and how to best plan upcoming shipments.