Port congestion eases in Asia while US battles import deluge

Singapore, Asia's third-largest trade hub, saw a week-on-week drop of 14.7% as a backlog visible since early November looked to be largely ... Nifty17,805.25179.55NTPC132.906.9MiraeAssetHybridEquityFundDirect-Growth17.33% InvestNowMiraeAssetEquitySavingsFundDirect-Growth15.1% InvestNowMarketWatchSearch+HomeETPrimeMarketsNewsIndustryRISEPoliticsWealthMFTechJobsOpinionNRIPanacheETNOWMoreETRiseTopMSMEsSMEPolicyTradeExportsPre-ExportsProcessLogisticsPost-ExportsInsightsEntrepreneurshipMoneyITTechnologySecurityLegalGSTMarketingBrandingMarketingHRLeadershipPeopleResourcesETRiseDialogueGSTInvoiceGeneratorStartupHandbookBusinessNews›SmallBiz ›Trade›Exports›Insights›PortcongestioneasesinAsiawhileU.S.battlesimportdelugePortcongestioneasesinAsiawhileU.S.battlesimportdelugeSECTIONSPortcongestioneasesinAsiawhileU.S.battlesimportdelugeByKevinVarleyandBrendanMurray,BloombergLastUpdated:Nov21,2021,10:30AMISTRateStoryShareFontSizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisSingapore,Asia’sthird-largesttradehub,sawaweek-on-weekdropof14.7%asabacklogvisiblesinceearlyNovemberlookedtobelargelycleared.GettyImagesTotaltrafficinShanghai-Ningbodeclinedby0.2%fromthepreviousweekandHongKong-Shenzhen’sshipcountdropped10.4%,accordingtoananalysisofdatabyBloombergNews.Asia’slargestportsareshowingsignsthatcongestioniseasingaheadoftheholidayseason,apotentiallypositivestepforkeytradegatewaysintheU.S.thatarestillbattlinganinfluxofimports. TotaltrafficinShanghai-Ningbodeclinedby0.2%fromthepreviousweekandHongKong-Shenzhen’sshipcountdropped10.4%,accordingtoananalysisofdatabyBloombergNews.Singapore,Asia’sthird-largesttradehub,sawaweek-on-weekdropof14.7%asabacklogvisiblesinceearlyNovemberlookedtobelargelycleared. Thesamecan’tbesaidyetacrossthePacific,asqueuesofvesselsremainedelevatedinLosAngelesandLongBeach,California.Congestionlevelsatthoseneighboringportsrose6.7%fromthepriorweek. AsofearlyFriday,atleast75containershipswerewaitingforberthspacetooffloadafterpoliticianstouredtheportstwodaysago,toutinga32%dropinthenumberofcontainerssittingonthedocksformorethanninedays. Bloomberg ThehandoffbetweenlandandsearemainsanissueforAmerica’slargestcontainerhub,aslogisticsoperatorsonthegroundarenotpickinguptheircontainersquicklyenough,andasteadystreamofshipsarrivestodropoffmore. TheWhiteHousesaidinablogpostonWednesdaythatthenumberofcontainerssittingattheLosAngelesandLongBeachportsformorethanninedaysfellto87,000intheweekendedNov.15,comparedwith127,000onNov.1. Still,analystswerereluctanttocalltheworstoftheglobalsupplysnarlsover. “Theoddsremainstackedtowardsaworseningbeforeitgetsbetter,”LarsJensen,CEOofVespucciMaritimeinCopenhagen,saidinanemailFriday.“ThereisstillsignificantriskofportimpactfromCovidoutbreaksespeciallyinChina,thereisriskofmorecargosurgeputtingpressureonthesupplychainasshippersalreadynowbegintopushcargothroughratherthanwaitforthetraditionalrushbeforeChineseNewYear”inthefirstquarter,hesaid. Bloomberg Congestionwasn’tuniformlyeasinginChineseports.Thecongestionrate--theratioofshipswaitingtothoseinport--creptup25%greaterthanthemedianinTianjin,whileaCovid-19outbreakinthesmallerportofDaliandrovedowncontainershipcountstoanApril-to-Novemberlowoffiveships. Manilacontinuestoseehighcongestionrates,withatleast15containershipswaitingtooffload,comparedwitheightinport.IntheU.S.,Savannah,Georgia,continuestologtheworstcongestionrateamonglargercontainerportsat87.5%. 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