Singapore port congestion pushing up waiting time, cargo rollovers and rates
BR International would like to advise customers of significant current disruption in the port of Singapore. The port is an important hub to Australia, linking many Asians ports via transhipment and vessel consolidation. Many feeder ships coming from S.E. Asia are missing connections with the main shipping lines and vessels that service Australia.
Respected Trade magazine Loadstar (see link below), reports that major delays have now hit the port, with congestion causing vessel turnaround times to more than double and week-long cargo rollovers.
According to S&P Global Platts the number of vessels at Singapore for longer than two days had increased to 46 a day in January, up 59% year on year. Spot rates have increased as a result, Platts noted, with east coast North America rates, including priority loading, at US$10,000 to US$15,000 per feu, some “US$6,000 to US$8,000 per feu higher than other main ports in South-east Asia, such as Vietnam and Hong Kong”.
Terminal operator PSA International said: “This exceptional situation is due to a confluence of factors, including an unprecedented and volatile surge in cargo demand, congestion across all nodes in the global supply chain (including depots, warehouses and seaports) due to renewed lockdowns, a lack of usable empty containers while laden ones are held up longer at these nodes and shipping lines’ schedule reliability dropping to 10-year historical lows, causing further delays at almost every seaport worldwide.”
BR International remains committed to working hard to minimise disruptions to our customers. Whilst some delays are inevitable, we are diligently working with our overseas partners to ensure that these delays are kept to an absolute minimum. Our Customer Service executives will keep you abreast of any specific issues that may be affecting your freight that travels through this port.
Should you have any questions, queries, or concerns please feel free to contact us at your earliest convenience.
To read the full Loadstar article, please click on the link below:
Keeping you updated,
BRi Customer Solutions Team
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