Dry bulk freight market frenziness has slowed down a bit during the last month and this allowed a US-based shipping company to entrust us as their Husbandry Agents during her call in Piraeus, Greece. From formalities clearance, spare parts handling as well as specialists visiting the vessel on board were handled in smooth and fast coordination with the managers’ operations and technical team. So nice to have international partners in our area!
Container Market: A more chaotic peak season this year?
According to the Container xChange survey, 51% expect the third-quarter peak season in 2022 to be worse, 26% expect it to be less chaotic, and 22% expect it to be about the same. Encountering another disrupted year, following the pandemic’s damage to the container market, the container line reliability dropped even further in the first quarter of 2022. With China’s lockdowns, it has become strenuous to produce / ship as much product as planned. This is more evidence of growing concerns that the release of lockdowns in China may surge exports, further disrupting supply chains to Europe and North America. When the lockdown rules get eased and truckers are allowed to return to work, the backlogs will arrive at the same time as peak season orders, which could lead to supply chain congestion at ports in Europe and the US. However, there is little indication thus far that China is willing to compromise health policy to boost trade.