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Empty containers piled up in port! The "empty shelf" trailer was parked on the side of the road, and the drivers of the truck had no orders to pick up. Some drivers had returned to their hometown.
Dec 08,2022
In the second half of this year, as the global capacity market plummeted and the demand for containers dropped sharply, the grand occasion of "one box is hard to find" was no longer replaced by "empty containers stacking ports". As demand in the global shipping market shrank sharply, freight rates on major shipping routes fell sharply. Some routes even fell 80% compared to the same period last year.
On December 5, the official website of the China Port Association released the port production and operation monitoring and analysis report,In November, eight hub port containersThe throughput of heavy containers in foreign trade decreased by 9.7 year-on-year, while the empty containers in foreign trade increased by 23.73 year-on-year.
In November, the cargo throughput of key monitoring ports increased by 0.8 year-on-year, and the growth rate further slowed down. Among them, in late November (November 21 to November 30), the cargo throughput of key coastal hub ports decreased by 7.65 year-on-year, including foreign trade decreased by 10.53, and domestic trade decreased by 4.88.
According to Linerlytica data, freight rates from the Far East to Europe, the Middle East and Africa continued to spiral downward and saw the sharpest decline last week, mainly due to "weak cargo volumes on all trade routes".
Analysts said: "Shipping companies are adopting a suspension strategy to promote a new round of general price increases in December, but it is unlikely to succeed if excess capacity is not eliminated. Contractual freight rates in 2023 seem certain to fall by 80%, and some routes that currently reflect in stock freight rates have fallen by 80% compared to the same period last year.
At the same time, the full size of European warehouses is also a challenge. For e-commerce goods, unloading is very difficult, mainly due to the limited space available in the warehouse. Those warehouses are full because retailers worried about supply chain disruptions and delays added to inventory earlier this year. However, as consumers have reduced their shopping expenses this year, they are still unable to sell all the goods. Even in the first quarter of next year, the situation may not be very good."
"Business is bad, 20 percent less (than last year)."On December 5, the person in charge of a logistics company in Shenzhen that provides container transportation and storage services told the reporter of Economic Observation Network,The location of the company's container yard is also very tight, with some empty boxes "left for a long time".
Since the 2020 epidemic, the shipping market has continued to be hot, and containers have become a well-deserved maritime "money printing machine". Shipping companies are desperately building boxes, reaching a historical peak, burying the hidden danger of overcapacity. Since the second half of this year, with the global capacity market plummeting and demand plummeting, a large number of empty containers can only be left in the yard.
A large number of containers were piled up in the port area near the gate of Yantian Port. As a hub port for international container ocean trunk transportation in South China, Yantian Port is one of the container terminals with the largest single throughput in the world. It mainly serves routes exported to Europe and the United States. Nearly 100 liner routes arrive in Europe, the United States and other regions every week. The relevant person in charge said,In the past, the tow truck driver took the empty cabinet to the next factory to pick up the goods after he had finished the heavy cabinet at the dock. Now, after the trailer has completed the heavy cabinet, most of them no longer carry the cabinet, because there is no "next order" to pull.
A truck driver engaged in container transportation in Yantian Port also told the Economic Observer Network,Recently, I saw many "empty shelves" cars parked on the side of the road near the container terminal of Yantian Port. "Some of the tires are flat and there are no orders. Some drivers have gone back to their hometown". He also said that at present, many parking lots are full of cars and the docks are also cleaning up illegal parking, making the situation of drivers even more difficult.
On November 25, Yantian International Container Terminal Co., Ltd. stated in the official WeChat,The company's stockpile of containers has hit a post-March 2020 epidemic high and will soon break through the all-time high since the port opened 29 years agoHowever, in order to cope with the return of empty containers and to prepare for the recovery of goods, plans are being made to launch a yard capacity optimization scheme.
Previously, in order to relieve the pressure of empty container operation in the port area, Yantian Port had previously transported a large number of empty containers to the container operation centers around South China by rail.
In addition, in many yards outside the Shekou port area, the business of these yards continued to be booming in the past, relying on heavy boxes to pile up, and the business was booming. Nowadays, there are more empty containers than heavier containers in the storage yard. "Shekou Port is also full of empty containers now, and we can barely make up some seats here." A yard owner said,These surrounding yards are basically full.
On November 30, the official website of the National Bureau of Statistics released the operation of China's Purchasing Managers Index in November 2022, showing that in November, the Manufacturing Purchasing Managers Index (PMI) was 48.0, a decrease of 1.2 percentage points from the previous month, and below the critical point. The level of production and operation of the manufacturing industry has declined from the previous month.
In interpreting the above situation, Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that from the perspective of enterprise scale, the PMI of large, medium and small enterprises was 49.1, 48.1 and 45.6, respectively, down 1.0, 0.8 and 2.6 percentage points from the previous month, all below the critical point. The survey results show that the proportion of large, medium and small enterprises reflecting tight funds and insufficient market demand has increased. At the same time, the index of new orders was 46.4 per cent, down 1.7 percentage points from the previous month, of which the index of new export orders was 46.7 per cent, down 0.9 percentage points from the previous month, while manufacturing production and domestic and foreign market demand fell.
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