Freight congestion leading to delays and higher prices

Freight congestion leading to delays and higher prices

Christmas season, Brexit fears and uncertainties due to Covid have a huge impact on international logistics services.

The non-availability of empty container equipment in origin countries leads to a strong capacity bottleneck now and in the near future. Carriers are announcing various surcharges like PSS, Equipment Imbalance Fee, Contingency Surcharge and others. Vessels from Asia to Europe are heavily overbooked. There is a first come first serve mentality in the market. Same additional fees as mentioned above must be accepted to ensure cargo being loaded on board.

Petrex already started in October to amend shipping schedules and increase buffer stock for key customers, especially in the UK. If you have further questions regarding the current shipping situation, please contact us directly.

May 1st – Labour Day

May 1st – Labour Day

Labour day is a well known holiday in the West to celebrate the working class. It is usually held on May 1st every year. In China, though, this holiday lasts for three whole days instead of just one day, which turns it into yet another long weekend break for the Chinese.

Based on the Western Labour Day holiday, which originated in Europe during 1891, Labour Day or “五一” (Wǔ Yī) was designated as a public holiday in China in 1949. From year 1999 to 2008 it was even a 7-day public holiday known as the third Golden Week in China. However, it was reduced to 3 days in 2008 to make way for other traditional festivals like Qingming or Dragon Boat Festival.

Although Labour Day is no longer classified as a Golden Week in China, it remains a peak travel period for Chinese. According to China’s Ministry of Culture and Tourism around 150 million Chinese are traveling during those days.

Happy Mid Autumn Festival

Happy Mid Autumn Festival

The Mid Autumn Festival is one of the most celebrated Chinese holidays. It is held on the 15th day of the 8th lunar month. Based on the Gregorian calendar, this year’s mid-autumn day will be held on September 24, 2018. Chinese legends say that the moon is at its biggest, brightest and roundest on this day. And the term round implies family reunion in Chinese. Families get together to eat moon-cakes and celebrate the end of the harvest season. It is often called the Women’s Festival. The moon symbolizes elegance and beauty.

Activities include fire dragon dancing, enjoying the displays of lanterns, and eating moon cakes. People are used to have moon cakes under the moonlight with family members. Moon cakes are pastries filled with gooey sesame, red bean, and walnut meats.

Enjoy a happy time.

Introduce Ningxia

Introduce Ningxia

Ningxia Hui Autonomous Region (NHAR), is an autonomous region located in the northwest part of the country. With an area of around 66,400 square kilometres the province is bordered by Shaanxi to the east, Gansu to the south and west, and Inner Mongolia Autonomous Region to the north. Yinchuan is the provincial capital. The Ningxia Hui Autonomous Region, which is called Ning for short. This mostly desert region lies partially on the Loess Plateau and in the vast plain of the Yellow River, and features the Great Wall of China along its northeastern boundary. The highest point is 3,556 meters above sea level. Ningxia is rich in mineral resources, including coal, gypsum, oil, natural gas, pottery clay, quartz sandstone, and barite. Temperatures range from an annual average maximum of 27 °C to minimum of −14 °C.Due to the warmer temperatures the best time for traveling is from May to September. Winter athletes will find their favorite weather conditions from December to January.

Chemical prices China February 2018

Chemical prices China February 2018

The World Economic Climate has improved considerably. Most chemicals sectors in China posted growth in demand and prices. Exports went up significantly and companies report a good capacity utilisation after the Spring Festival holidays. Hereunder a few chemicals and price tendencies in China from beginning February to end February 2018:

Caustic Soda RMB 1,020 > 4% up
Aniline Oil RMB 12,500 > 2% up
Phosphorous yellow RMB 16,500 > 1% up
Phthalic anhydride RMB 7,500 > Stable
Bromine RMB 29,500 > 1% down
Sulfur RMB 1,200 > 2% down
Benzene RMB 6,800 > 5% down

For any further information or specific questions, please do not hesitate to contact us.