ShipTech Logistics
3400 W Stonegate Blvd Ste 25-412Arlington Heights, IL 60005
www.shiptechintl.com
ShipTech Logistics
3400 W Stonegate Blvd Ste 25-412Arlington Heights, IL 60005
www.shiptechintl.com
ShipTech Market Update Week 38
Carriers ramp up Blank Transpacific sailings heading into China's Golden Week
Ocean carriers are facing pressure to improve Transpacific utilization levels as the volume spike dampens head of China’s Golden week. With demand declining as we head into Golden week, carriers are acting aggressively and have doubled the amount of blanks sailings than what was previously planned. Carriers announced another 29 blank sailings on the transpacific lane before, during, and after the holiday. When the alliances work together, they have proven they can regain control through capacity management to balance the supply/demand and obtain the rate levels they want.
Key Articles (Please click on the link to read full article)
Blank Sailings
Panama Canal
Yellow trucking update
Estes $1.5 Billion bid wins out for majority of Yellow’s terminals
Only major update to report is from Vancouver and the operation post stike. All terminals are operating normal, current rail dwell time is averaging 8 days with yard utilization decreasing each week.
Upcoming China Holidays
Mid-Autumn Festival - September 29th
National Day- September 29th
Golden Week- October 1st to October 7th
“In 2023, the holiday dates are Oct. 1st to 7th, 2023. People will be on duty on Oct. 8 (Sat) and Oct. 9 (Sun). This one-week period is also called "golden week" because it is the biggest week for tourism in China when people have a week off to reunite with families and take trips.”
We will keep you updated on the latest news and information as it becomes available. Please feel free to reach out with any questions or concerns.