Schedule reliability among the global container lines remains at the bottom of the range with only one-third of vessels operating on schedule.
The new data from research and advisory services company Sea-Intelligence shows only slight improvements in reliability and a small reduction in wait times confirming that progress will be slow in the recovery for the container shipping companies.
New Zealand businesses have experienced major disruptions as a result of COVID-19, including those businesses in offshore markets. Disruptions experienced by NZ exporters have had flow-on effects to the domestic economy.
Marine insurance claims have never been more topical, not just with shipments being compromised globally through congestion delays but with other one-off incidents hitting the headlines, such as thousands of containers still stuck on the Ever Given in the Suez Canal and containers having literally gone up in smoke on the X-Press Pearl of Sri Lanka.
Supply chain disruptions have been among the key stories during the pandemic. Congestion and lack of capacity have led to large increases in shipping prices. But for importers & exporters, the different modes of transport are not always a perfect substitute.
The road freight industry is big business in New Zealand, generating about $6 billion in turnover a year. About 260 million tonnes of freight is moved by road each year, accounting for about 93% of New Zealand’s total freight task.
The frustration and unpredictability of getting goods too and from New Zealand, has been discussed a lot over the past year.
Most supply chains globally were unprepared for these surges in consumer demand, but this is especially true for our country at the very end of that chain.
Not good news for importers & exporters. The “profit bonanza” being enjoyed by container shipping lines at present, through skyhigh freight rates, are set to remain in place for a couple of years more.
Rail in New Zealand has been estimated to provide a total value of $1.7 billion to $2.14 billion to the country’s economy each year.
Global container shipping pressures remain acute with shippers and carriers impacted by ongoing delays, congestion costs, and capacity shortages.
To avoid unnecessary delays to their next consignments, importers of food for sale need to have a valid Food Importer registration and complete their Intended Use declarations for all consignments of food, drinks, and ingredients.