Reminder: Chinese New Year Starts January 29th
This year, Chinese (Lunar) New Year is on January 29th, but preparations leading up to the holiday have been fast and furious.
Typically, factories begin shutting down/slowing production in mid-January, as workers tend to go home to their families to celebrate the holiday. Prior to this slowdown/shutdown, an influx in bookings occurs. When scheduling shipments in early 2025, shippers should account for extra lead times and possible delays.
Then, in early February, factories gradually begin opening and by mid-February, a full return to work typically occurs. After the holiday, ports in China likely experience high demand of shipments, which can create bottlenecks, wait times, and delays.
ILA and USMX Meet to Resume Contract Negotiations
Déjà vu? It feels like we’re right back where we were at the end of September and early October. With the ILA and USMX still unable to reach an agreement on a new Master Contract, which is set to expire on January 15th, the situation remains uncertain. Ports along the U.S. East and Gulf Coast would be directly impacted, if a strike happens. According to reports, the parties were scheduled to resume formal bargaining on a new contract, Tuesday, January 7th.
In anticipation of a potential strike, several ocean carriers have announced surcharges, if a strike does occur. Each carrier has specific terms, so it’s important to stay up-to-date on these developments, please reach out if you have questions. We strongly encourage all shippers to closely monitor the situation.