Weekly Update – 13.01.2023

Weekly Update – 13.01.2023
January 13, 2023 Hannah Marshallsay

The Chinese New Year holiday will halt the production and movement of goods from China over the coming weeks. The high number of blank sailings from Asia to North Europe will continue throughout January and into February as carriers continue to balance their networks in order to match the reduction in demand.

CNY Holiday Period to Halt Production and Movement of Goods

The first day of the Chinese New Year 2023, the year of the rabbit, will be celebrated on 22nd January this year, and for up to two weeks afterwards. Chinese New Year has a huge impact on global supply chains originating in China and Hong Kong as commerce virtually comes to a standstill during this period. Almost all factories and manufacturers shutdown during these weeks, while ports and customs will operate with a skeleton staff. Not only that, the reopening process can be gradual with some factories not getting back to full operations for up to a month. As a result there is a significant pause in the production and movement of cargo during the holiday period from China. Customers should be prepared for possible container delays and disruption as a result of the closures.

PFE’s partner offices in China will be closed for the Chinese New Year holiday from 21st to 27th January 2023 and will resume work on 30th January.

PFE’s partner offices in Hong Kong will be closed from 23rd to 27th January and will resume work on 30th January.

PFE’s UK offices will remain open as usual.

Blank Sailings to Continue Throughout January

Chinese New Year traditionally sees a spike in sea freight demand ahead of factory closures for the holidays. However 2023 has been an anomaly, with the usual surge in demand not materialising as a result of falling consumer confidence in western economies. Shipping lines have announced a significant number of sailing omissions in an attempt to balance their networks to match the reduction in demand. As a result of the slump in demand, coupled with the expected quiet period after Chinese New Year, we expect the high number of blank sailings from Asia to North Europe to continue throughout January and into February. 

With capacity continually being withdrawn, we are experiencing potential challenges with schedules changing at the last minute. We will endeavour to rebook cargo to remaining vessels in advance to minimise disruption for customers. We will keep you updated with any news of impact to the movement of your cargo at the earliest opportunity.

Air Freight Chinese New Year Collection Cut-Offs

We would like to inform customers that this Friday is the last opportunity for air freight groupage collections prior to Chinese New Year. If you need to urgently ship your goods over the Chinese New Year holiday period, we are able to organise dedicated collections right up until the 21st of January for air shipments from China. The last collection for dedicated shipments from Hong Kong will be on 18th January 2023. Please contact our air freight department on  +44 (0) 1753 278020 for further information or to obtain a quote. 


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