How about global shipping?

The deterioration of congestion in major ports around the world is continuing. Seaexplorer, a container transportation platform, pointed out that on June 18, 304 ships were waiting for berths in front of ports around the world. It is estimated that 101 ports around the world have congestion problems.

The number of container ships waiting for berths in Singapore Port has increased by 37.5% in the past week. In order to make up for the delays in Yantian Port, many shipping companies, including COSCO Shipping and CMA CGM, have decided to skip Singapore Port without berthing.

In Thailand, Laem Chabang port (Laem Chabang) also has queues for ships waiting for the port.

Also in order to curb the development of the epidemic, Malaysia has been completely blocked from June 1 to 14. Although port freight is allowed to operate, furniture factories are prohibited from operating. This has caused more than 2,000 containers of export goods in the furniture industry to be stranded.

South Korean ports are also facing a large backlog of cargo. In Busan Port, which accounts for more than 70% of South Korean container throughput, a large number of containers are stacked one after another, leaving only narrow passages to allow vehicles to pass.

The peak season for purchasing goods in the second half of the year in Europe and the United States is coming. Halloween, Thanksgiving, Black Friday, Cyber Monday, Christmas... the huge sales demand generated by these holidays will continue to add fire to the already "hot" shipping market.

Simon Heaney, senior manager of container research at Drewry, a professional maritime consultancy, said: “There are currently no obstacles to prevent rates from continuing to rise. Demand is still soaring and port productivity and equipment availability are deteriorating. Unless these conditions change, otherwise. Freight rates will continue to rise.” Drewry believes that changes will not take place until the fourth quarter of 2021 at the earliest.