FourKites sees recovery at Chinese ports as COVID-19 lockdowns ease
Real-time supply chain visibility platform FourKites has seen a recovery in import and export ocean shipment volume at Chinese ports over the past weeks as COVID-19 lockdowns have eased.
“Volume at the Port of Shanghai has increased since mid-May, with the 14-day average ocean shipment volume now down only 2% compared to 12 March (the day before lockdowns went into effect) for shipments tracked by FourKites,” says Philippe Salles, VP Strategic Solutions (Ocean). “This is up from mid-May, when shipment volume was down as much as 25% over the same period.”
For other Chinese ports, shipment volumes have remained strong, with volume at the Port of Shenzhen up 25% and volume at the Port of Ningbo-Zhoushan up 35% compared to 12 March.
FourKites has continued to see strong recovery in volume traveling 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 3% compared to levels seen on 12 March.
“Volume along this lane had previously reached a low of 43% lower in mid to late April,” says Salles. “Delays remain elevated, however, with the 14-day average percentage of shipments delayed along this lane at 37% compared to the high of 39% seen in mid to late April.”
“While the situation is easing up, we are nowhere near the shipping volumes and transit times we saw before COVID,” continues Salles. “Going forward, supply chains will likely get more complex. One area to watch is ocean shipment transit times. I expect new emissions regulations to come from the International Maritime Organisation (IMO) in 2023, which will likely result in a reduction of ship speeds. As such, we will see more delays and uncertainty in global supply chains.”
Global supply chain visibility platform FourKites® extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2.5 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching more than 200 countries, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 1,000 of the world’s most recognised brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains.
