Prolonged lockdown but Shanghai has recovered
The Corona lockdown that gripped Shanghai in The Spring . But Shanghai has recovered well in the past month of June.
Visibility Four kites reports that figures show that in May the average cargo volume was still 25% lower than on March 12. And that in the first weeks of June the average freight volume was 2% higher than on March 12, this is a similar level to before the start of the lockdown in Shanghai.
There was also an increase in the other ports in China. For example, the average cargo volume at the Port of Hong Kong on June 20 was 43% higher than the cargo volume in mid-March.
The recovery for land transport to Shanghai has also recovered in recent weeks. In mid-May it was still up 17% from normal, and in the third week of June it was higher than before the lockdown that began in March.
However, only a slight recovery can be seen for the goods to be collected from Shanghai. These volumes are still 74% lower compared to March 12.
In early June, we reported a sharp increase in waiting times for exported goods at Chinese ports. Shanghai then stood at an average of 7.5 days and China’s other ports at 9.7 days. This was up 53% from March 12.
The waiting time for ports is currently still higher than the March 12 waiting time, but it has decreased since the beginning of June and is now around 6.2 days for Shanghai and 8 days for the rest of China.
For import products, the current waiting time is also even higher than that of March 12. Currently it is 4.5 days this is still 12% higher than March. But there is no strong increase in waiting times for the import products in recent weeks.
Two weeks ago, Philipe Salles (Vice-President of four kites) already stated, „The reopening of the Chinese ports will not be easy in the coming months. It will create constraints in shipping capacity. Transporting products from Asia remains a challenge in the third quarter. Moreover, for importing cargo to Europe, the already existing congestion must be considered.“