Following the discovery of several asymptomatic cases of Covid-19 in the City of Shenzen, Major Shipping companies have warned of worsening congestion at the Shenzen’s Yantian Port.
Yantian International Container Terminal is one of China’s busiest container ports with an annual handling volume of more than 13 million 20 foot containers.
With stricter than ever quarantine measurers put in place; more than 40 container ships were anchored in open water outside the terminal waiting up to 2 weeks to reach the port.
Container freight rates from China to Europe touched a record high of $10,627 (per 40-foot container unit) over the past weeks.
Yantian International Container Terminal has become a critical gateway into China with its recent expansion with around 100 vessels calling in weekly.
Seal Logistics continues to monitor the Freight situation both internationally and domestically.