New Covid lockdowns hit trade

Volumes of both imports and exports at Chinese ports has dipped slightly as some cities begin to impose Covid-19 lockdowns once again.

As several large Chinese cities have been rolling out stringent restrictions, volume at the Port of Shanghai fallen 15% since the peak in mid-July, according to supply chain solutions provider, FourKites.

The 14-day average ocean shipment volume at Shanghai is now down 5% compared to 12 March (the day before lockdowns went into effect), but is up 3% week-over-week for shipments tracked by FourKites.

Other Chinese ports are up since 12 March but have generally been trending down with the volume at the Port of Shenzhen up 20% (up 12% week-over-week) and the volume at the Port of Ningbo-Zhoushan up 9% (down 5% week-over-week) compared to 12 March.

FourKites has continued to see recovery in volume travelling from China to the United States. The 14-day average shipment volume for loads traveling from China to the United States is now down only 9% compared to levels seen on 12 March, and is down 1% week-over-week.

Delays remain elevated, with the 14-day average percentage of shipments delayed along this lane now at 38% compared to 31% seen before the lockdowns began. However, this is down from the recent peaks of 43%.

Dwell times for import and export shipments at Chinese ports remain well below the peaks seen earlier this year. For import shipments at Chinese ports, the 14-day average ocean dwell time is now at 4.5 days, 13% higher than when the lockdowns began, but down 30% from the peak.

For export shipments, the 14-day average ocean dwell time is now at 5.6 days, which is down 18% from when the lockdowns began and down 32% from the peak.

Source: Port Strategy

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