Thursday, 22/12/2022, 13:07 (GMT +7)
1079
Sea-Intelligence: Container shipping capacity remains high in Lunar New Year 2023
The Lunar New Year taking place in China and many countries in Asia is expected to reduce the volume of cargo production, this is the time when major shipping lines blank many salings to adjust supply to match demand.
According to Sea-Intelligence, in 2020, the Lunar New Year will be extended due to the impact of the Covid outbreak, while in both 2021 and 2022, shipping lines will keep high capacity to meet increased demand.
Currently, as demand has faltered and freight rates continue to trend downward, it makes sense for shipping lines to increase their blanked sailings to reduce capacity during the 2023 Lunar New Year to try to prevent the decline of rates.
Container capacity growth in 2023 (Source: Sea-Intelligence.com, Sunday Spotlight, No. 595)
However, based on the above data, comparing 2023 with 2019 and the average capacity growth rate for the period 2015-2019, an unusual increase in deployed capacity can be seen.
Alan Murphy, CEO of Sea-Intelligence, reports that Asia-North America West Coast service is showing a 35%-38% capacity increase, Asia-North America East Coast service is 57%-59% and the Asia-North Europe is 28%-42%, while the Asia-Mediterranean is the only shipping route close to pre-pandemic levels.
Sea-Intelligence said this development is worrisome, as despite the drop in demand, deployment capacity during the 2023 Lunar New Year period is expected to be higher than the capacity deployed in 2021 - a time when demand increases dramatically.
"If demand continues to be sluggish, or outright contracts, given these capacity levels, freight rates are expected to continue to tumble," pointed out Murphy. He went on to conclude that "with the shipping lines sitting on piles of cash, further helped by a highly profitable Q3, we might end up in a situation where there is another price war, reminiscent of the one we saw in 2015-2016."
Source: Phaata.com (According to Sea-Intelligence)
Phaata - Vietnam's First Global Logistics Marketplace
► Find Better Freight Rates & Logistics Services
Featured News
- Hapag-Lloyd applies Peak Season Surcharge from East Asia to USA and Canada
- The world\'s largest container ships MSC Irina and MSC Loreto floated
- MSC (Mediterranean Shipping Company) - The world\'s leading container shipping lines
- Information you need to know about Maersk Line
- Top 10 export and import goods between Vietnam - Philippines in the first 5 months of 2020
Market News
See more
.webp)
HOT PROMO
See more
473
Other
Công Ty Cổ Phần Vinafco
10801
FCL
35 Days
Freight cost
CÔNG TY TNHH CARDINAL GLOBAL LOGISTICS (VIETNAM)
Premium
1143
FCL
15 Days
Freight cost
Compass Logistics
Premium
4741
FCL
38 Days
Freight cost
CHI NHÁNH THÀNH PHỒ HỒ CHÍ MINH - CÔNG TY TNHH HECNY SHIPPING VIỆT NAM
6620
Other
INTERLOG CORP - CÔNG TY CỔ PHẦN GIAO NHẬN TIẾP VẬN QUỐC TẾ
Why do thousands of businesses trust Phaata?
USERS/MONTH
LOGISTICS COMPANIES
REQUEST FOR QUOTEŚ
QUOTATIONS
VIETNAM LOGISTICS COMMUNITY
5 Steps to Get the Best Quote
Find a price quickly/Send a RFQ
Compare multiple options
Contact for Further Consultation
Negotiating prices/services
Management & rating
Freight rates
Sea freight
- FCL
See more
53
3
Days Direct
- ₫3,175,560 / 20'GP
- ₫7,145,010 / 40'GP
- ₫7,145,010 / 40'HQ
GIA LINH LOGISTICS SERVICES CO., LTD. (G LINK Logistics)
48
6
Days Transit
- ₫14,554,650 / 20'GP
- ₫29,109,300 / 40'HQ
CÔNG TY TNHH GIAO NHẬN TOÀN CẦU GS
294
3
Days Direct
- ₫3,367,000 / 20'GP
- ₫7,252,000 / 40'GP
- ₫7,252,000 / 40'HQ
CÔNG TY CỔ PHẦN TIẾP VẬN INTERCARGO
356
3
Days Direct
- ₫1,323,150 / 20'GP
CÔNG TY TNHH VẬN CHUYỂN QUỐC TẾ TÂN TOÀN CẦU
371
Sea freight
- LCL
See more
226
12
Days Direct
- Refund ₫264,630 /cbm
CÔNG TY CỔ PHẦN SILVIET
563
2,119
13
Days Direct
- ₫0 /cbm
CÔNG TY TNHH DỊCH VỤ VẬN TẢI BIỂN VESTAL
3,761
45
Days Transit
- Refund ₫131,570 /cbm
CÔNG TY TNHH LIÊN KẾT HOÀN HẢO (PERFECTLINK CO.,LTD)
5,811
7
Days Direct
- Refund ₫261,590 /cbm
CÔNG TY TNHH VẬN TẢI VÀ TIẾP VẬN TOÀN CẦU
Air freight
- General cargo
See more
1,793
10,381
1
Days Direct
- 46,310 ₫/kg
N.B.L INTERNATIONAL TRANSPORT CO., LTD
12,558
1
Days Direct
- 161,424 ₫/kg
CÔNG TY CỔ PHẦN GIAO NHẬN VẬN TẢI HỒNG SƠN
14,884
10
Days Transit
- 264,630 ₫/kg
Phoenix Logistics Vietnam - chi nhánh TP. Hồ Chí Minh (Phoenix International Forwarding Vietnam )
14,544
1
Days Direct
- 185,241 ₫/kg
CÔNG TY TNHH THƯƠNG MẠI VÀ DỊCH VỤ FASTRANS
Rail freight
- FCL
See more
11,299
5
Days Direct
- ₫44,987,100 / 40'HQ
- ₫44,987,100 / 45'HQ
CÔNG TY TNHH PHƯỚC TÁ
14,803
3
Days Direct
- ₫15,083,910 / 40'HQ
CÔNG TY CỔ PHẦN VẬN TẢI VÀ THƯƠNG MẠI ĐƯỜNG SẮT
24,405
7
Days Direct
- ₫48,956,550 / 20'GP
Công ty TNHH T&M Forwarding
22,865
5
Days Direct
- ₫7,145,010 / 20'GP
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
11,818
10
Days Direct
- ₫9,262,050 / 20'GP
CÔNG TY CỔ PHẦN LOGISTICS QUỐC TẾ V&T
Road freight
- FCL
See more
178
6
Hour
- ₫10,500,000 / 40'GP
- ₫10,500,000 / 40'HQ
Công ty TNHH Giao nhận quốc tế HP LINK
247
16,597
1
Day
- ₫28,000,000 / 20'GP
- ₫28,000,000 / 40'GP
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ VÀ KHO VẬN VIETTEL POST - TTC
117,302
2
Day
- ₫6,500,000 / 40'RF
- ₫6,500,000 / 40'RQ
- ₫6,500,000 / 45'RQ
CÔNG TY CP PROSHIP
Premium
184,109
1
Day
- ₫18,997,200 / 20'GP
- ₫18,997,200 / 40'GP
CÔNG TY CỔ PHẦN GIAO NHẬN VẬN TẢI CON ONG
