TPEB Market Updates – May 12th, 2022
Dear valued customers,
As you know, China have been executed the zero-covid cases policy for a while. Finally, after more than a month of strict lockdown in Shanghai, authorities have begun gradually easing Covid restrictions. There’re some bullet points that we’d like to share and updated to you.
Production resuming in China
It’s estimated that the restriction will be lifted in late May but this is not confirmed yet. Part of factories are resumed back to work but workers are required to live at the work places. Also, part of the highways are reopened. Under this situation, a cargo rush in the peak season is predictable from now. However, it will take quite some time for full recovery, as some of the terminals and depots are still closed
Demands increasing in South China
Demand from South China is increasing due to the COVID issues mentioned above currently experienced at Shanghai. Bookings are gradually resumed at South China, which makes the shipping rate slightly increase in the second half of May. With the continued demands in South China and the gradually resuming of Shanghai, we are seeing the market is warming up for the coming traditional peak season.
If you have any forecast information, please do provide by origin, it would be much appreciated to help us with the space arrangement with our core carriers for you.
Again, we really appreciated for the support as always. We are monitoring the situation and will keep you updated if there is any news. Should you have any questions, please don’t hesitate to contact our offices or your sales representatives.
All of us are happy to help. USPTI appreciate your support!