Asia Market update

Please find following updates from our China partner – Norman Global. Should you have any query or concern please do not hesitate to be in contact – Murray 021 758 845

CHINA:
South China, Shenzhen & Hong Kong
• Factories are back operating, with an increase in bookings from March.
• Local Transport: Operating as normal except at border crossing. Due to Covid control, there are delays on the cross-border trucking between South China and Hong Kong.
• Ocean freight: The space Situation has eased in February leading up to March. The spot markets are currently seeing some rate reductions for the second half of February.
• Airfreight: Spot market rates are currently seeing some reductions for the second half of February.

South China, Xiamen
• Factories are back working as usual.
• Local Transport: Operating as normal.
• Ocean freight: The space Situation has eased in February leading up to March. The spot markets are currently seeing some rate reductions for the second half of February.
• Airfreight: Spot market rates are currently seeing some reductions for the second half of February.
• Air Import: Cargo to Fuzhou has reduced capacity due to covid controls.

Central China, Shanghai
• Factories are back working as usual.
• Local Transport: Operating as normal.
• Ocean freight: The space Situation has eased in February leading up to March. The spot markets are currently seeing some rate reductions for the second half of February.
• Airfreight: Spot market rates are currently seeing some reductions for the second half of February.
• Covid, there are No measures in the Shanghai area. Some restrictions are in place for Suzhou areas

Central China, Ningbo
• Factories are back working as usual.
• Local Transport: Operating as normal.
• Ocean freight: The space Situation has eased in February leading up to March. The spot markets are currently seeing some rate reductions for the second half of February.
• Covid: No transport restrictions due to Covid at present.
North China,

North China, Qingdao, Tianjin, Dalian, Beijing
• Factories are back working as usual.
• Local Transport: Operating as normal.
• Ocean freight: EU/ US trade the space Situation has eased in February leading up to March, and spot markets rates are currently seeing some rate reductions for the second half of February, with exception to the Canadian trade, the space is exceptionally tight due to omitted vessels in February.
• Airfreight: Rates are expected to start to soften after the Olympic Games.
• Covid: No transport restrictions due to Covid at present.

VIETNAM:
• Local factories are working as normal.
• Local Transport: Operating as normal but market expect rate increase due to a Gasoline shortage.
• Ocean freight: Still some issues with shipping lines equipment release.
• Covid: No transport restrictions due to Covid at present.

THAILAND:
• Local Transport, haulage is operating as usual and no notable change.
• The Space Situation eased in February leading up to March.
• Ocean freight spot markets are currently seeing some reductions for the second half of February, heading towards March.
• The airfreight spot market is also currently seeing some deductions for the second half of February

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