ANCHORS UP WEEKLY: OCEAN FREIGHT
Massive Spike in Spot Rate, and Now Contract Costs
Long Beach port congestion is at its all time high this week with about 40 container ships just waiting to get to port. Because of this, many ships have been cancelled for the time being. Now what happens in Q2 because of the current port congestion? Rates won’t be going down anytime soon and more volume will be pushed into the coming months after Chinese New Year. Spot rates will most likely remain high for a good part of Q2 which leaves importers trying to lock down contracts with these insane spot rates.
According to Freight Waves, companies have seen a 30-50% increase but is still below spot rates that are nearly quadruple contract rates.
https://www.freightwaves.com/news/importers-face-massive-hike-in-ocean-contract-costs
WHEELS UP WEEKLY: AIR FREIGHT
Myanmar Situation and Solutions
Myanmar’s airport is closed until further notice and all air shipments to/from Myanmar are unable to proceed. There are a couple options to get around this closure.
EXPORTING FROM MYANMAR
Trucking from Yangon to Bangkok and then Bangkok to destination by AIR.
IMPORTING TO MYANMAR
AIR freight to Bangkok (BKK) and then truck from BKK to RGN.
Please reach out to our team if you would like to discuss in more detail
OVERSEAS PARTNER HIGHLIGHT OF THE WEEK
Pabllo Logistics – Romania
Luisa Mateescu
THIS WEEK'S QUIZ
BLOG OF THE WEEK
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