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Qingdao expects March recovery as post-New Year production resumes
QINGDAO, one of China's biggest ports, is suffering from sharp shrinkage in shipping demand as many factories only recommence full production after middle of the first month in the Chinese New Year, Xinhua reports.
An analyst from a local freight forwarder said that the post-Chinese New Year holiday period is the slack season when factories have their products shipped before the holiday to secure enough supply in the overseas markets.
The slow season usually lasts till March, when demand will gradually rises and peaks in June. Though demand will fall from July to October, it will climb again in November till the Chinese New Year holiday next year.
Europe and Mediterranean trade lanes have always been the indicators of the shipping market. Before Chinese New Year, capacity was short on these lines and freight rates grew to around US$1,500 per TEU. After the holiday, the rates have dropped by $100 to $200.
An analyst from a local freight forwarder said that the post-Chinese New Year holiday period is the slack season when factories have their products shipped before the holiday to secure enough supply in the overseas markets.
The slow season usually lasts till March, when demand will gradually rises and peaks in June. Though demand will fall from July to October, it will climb again in November till the Chinese New Year holiday next year.
Europe and Mediterranean trade lanes have always been the indicators of the shipping market. Before Chinese New Year, capacity was short on these lines and freight rates grew to around US$1,500 per TEU. After the holiday, the rates have dropped by $100 to $200.
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