THE MARKET DID WHAT!!!?

Something has given! Imports from China to the US are off the charts. But ocean carriers are canceling 71 ship sailings thru June in order to get the ships back on schedule. This will effectively reduce 750,000 containers of space. 

Meanwhile, Yantian port shut down completely. Yantian is just northeast of Hong Kong and is the second-largest volume port in China. This is primarily due to a resurgence of Covid19 in Asia. Vietnam has requested employers to keep no more than 50% staffing at work at a time. Expect this to also affect the business short term.

What is probably the most problematic is that ocean carriers' pricing is over $10,000 per container and still rising.

What can you do?

What we are saying with all of the above, things for June and July will be worse, not better for available space. We strongly recommend that if you have the business, don't wait for a better deal to come along. When bookings become available, book the space/container immediately.

The importance of being earnest.

Please don't try and shop your business across several sources. Carriers will see that the same bookings are being offered which reduces the chances of our securing the space. 

Work with companies like JMC Global that have the experience, network, and (most importantly) the reputation as a service-based, carrier-friendly company. Service-based companies like JMC Global have the relationships and the staffing to work the challenges and deliver the solutions that you need.

Global Port Tracker estimated that containerized imports in February increased 24.4 percent over February 2020. It projects a huge 44.1 percent year-over-year increase in March due to weak import volumes in March 2020. April imports are projected to increase 18.2 percent, May imports 25.2 percent, June imports 19.6 percent, and July imports 5.3 percent.