Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. After two years, experts agree that there isnt an end in sight: Port congestion is still very much with us. Look up rates for new shipments and inland tariffs. . We and our partners store and/or access information on a device, such as cookies and process personal data, such as unique identifiers and standard information sent by a device for personalised ads and content, ad and content measurement, and audience insights, as well as to develop and improve products. Apart from a 70 percent equity in Port Tanjung Pelepas (PTP), MMC Corp also owns Johor Port Northport (Malaysia), Penang Port and Tanjung Bruas. A specially designed information technology system offering real-time container tracking and automated scanning has increased the ports productivity manifold. Another reason is the longer turnaround time at seaports in the East due to various restrictions as the pandemic is still raging on in the East, the investment bank said. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Furthermore, additional free port storage days will be offered to Hong Kong and Nansha during Lunar New Year. In this article, let us have a look at the 7 major ports in Malaysia. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Operated by the Labuan Liberty Port Management, it handles cargoes of container goods, oil, rattan, wood, textiles, decorative items, fruits, maize, hardware goods, canned food, electrical appliances etc. This enables us to give accurate port congestion data as opposed to historic coverage given by other data providers in the market. The latter has 4 container terminals spanning 2.5 km and can accommodate ships weighing not more than 200,000 DWT. We hold similar positive view for Westports. Asia remained the world's leading maritime cargo handling centre in 2021, accounting for 42% of exports and 64% of imports. But the question on everyones mind is when will the situation ease and the problems abate. See here for a complete list of exchanges and delays. It is an important regional port serving mainly the oil and gas industries. Rainbow Warrior: On a mission to rid world of plastic waste. In general, the export price recorded a relatively flat trend pattern. According to Market Intelligence, April 2023, Maritime and Trade Talk | EP14: Analyzing the U.S.-China Trade Relationship, Energy Evolution | Funding the energy transition, with Jigar Shah of DOE's Loan Program Office. Therefore, its crucial for those new to international shipping to know these costs before entering new territory. Wee said the SOP was designed to enhance coordination between agencies such as the Royal Malaysian Customs Department (JKDM) and the Malaysian Quarantine and Inspection Services Department (MAQIS) for container management. And customers throughout the country experience shipment delays lasting weeks. After a turbulent 2022, European ports are finally seeing stability when it comes to port congestion. Transportation Undersecretary Elmer Francisco Sarmiento and Philippine Ports Authority (PPA) Officer in Charge-General Manager Francisquiel Mancile inspected the Manila International . The shortage caused many vessels to miss their connective route and had to reschedule calls to a later date. Yes, we do. We reckon this situation may recur even in next year if we are faced with more pandemic-induced lockdowns or controls. Some headlines over the past couple of weeks have said, The supply chain crisis is easing. As 2022 begins, we do not see the evidence for that, at least not in terms of fluidity of container flows. "With the end of the health restrictions, we regained a degree of normality. The effects of port congestions and the overall global supply chain crisis are bound to affect your retail operation. It's "no longer a case of going for three months or six months, one month, not even one year, but two to three years because we want certainty in cost and certainty in space," said Sundara. content Our delay calculation logic takes into account the time spent by vessels in proximity to the port (ideally, anchorages or queues) and the time taken by the container to gate-out (be cleared) from the port once the vessel arrives at the port to build real on-ground delays. The views constitute only the opinions and do not constitute any guidelines or recommendations on any course of action to be followed by the reader. Unfortunately, this situation is likely to continue for some time particularly now that Omicron has cut workforce numbers in some locations by up to 25%. Transport minister: Three-day limit for containers to be cleared at These ports are causing the most congestion in supply chain - CNBC Port Congestion in 2022: What's Happening? | ZhenHub Its operational efficiency is hurt amidst excessive traffic at the port and as shipping lines miss their port call schedules, having been held up too long during their calls in the previous ports. While the congestion levels have reportedly improved, normalcy may return only when significant parts of the world have moved past the COVID-19 pandemic stage hence diminishing the risks of major border lockdowns or controls, he added. However, carriers are already hiking their prices. Maersk has announced its intention to complete the acquisition of Hong Kong-based LF Logistics later this year in a deal that will significantly expand Maersks warehousing and distribution network. For Port of Tanjung Pelepas, we apply a more cautious assumption of similar performance to last year at 9.85m TEUs. See here for a complete list of exchanges and delays. Port congestion will continue to drive freight rates through Q2 2022 This new standard operating procedure (SOP) will be implemented effective May 1, 2022, and encompasses the detention, inspection, and release of containers by enforcement agencies and other government agencies or port authorities at Port Klang. We would like to be able say that we see signs of the log jam breaking. But supply chain congestion isn't going away soon. This situation has caused yard congestion at the ports due to higher dwell time for containers. In a report on Thursday (June 2), industry news provider The Maritime Executive (TME) said while there were signs of improvements, data from research and analysis firm Sea-Intelligence continued to show persistent scheduled delays with as many as one in 10 container ships . As mentioned earlier, port congestions are mere symptoms of a bigger problem. 1887. Of the nations ten busiest ports by volume, it is estimated that at least seven face congestion regularly. Covering more than 1000 acres and comprising its 24 berths, this multipurpose port deals with all kinds of cargoes through its numerous dry bulk, liquid bulk and container handling facilities. What is the depth and source of the data used in the calculation? Maersk launched the Polaris service in January 2022 connecting Brisbane, Australia to New Zealand ports Lyttelton and Timaru. Global ports were struggling to keep up with the influx of orders even before the pandemic. Similarly, Aaron Alpeter, founder of Izba Consulting, a supply chain consulting, outsourcing, and technology firm, believes that companies will spend more resources for restructuring. A recurring problem since the pandemic is that the system does not have time to recover before the next shock hits. The port also has one of the worlds most beautiful and technologically advanced ferry terminals. The port spans 1930 acres and comprises 14 container berths that can accommodate the biggest container ships. Yes! ZHENHUB > Blog > Industry News > Port Congestion in 2022: Whats Happening and How is it Affecting Businesses? Moreover, stimulus programs enhanced spending power. IMF Members' Quotas and Voting Power, and Board of Governors, IMF Regional Office for Asia and the Pacific, IMF Capacity Development Office in Thailand (CDOT), IMF Regional Office in Central America, Panama, and the Dominican Republic, High-Level Summary Technical Assistance Reports, Financial Sector Assessment Program (FSAP), Currency Composition of Official Foreign Exchange Reserves. And while people often look to inventory first, this is not the only solution. Using these credentials you can have access to our port congestion database along with other free tools and getreal-time free container tracking tool, smart ocean/vessel schedules andshipping rates market index (GFI) for free! Working with a reputable third-party logistics company is the best recourse for those who dont have time to vet carriers and process international documents. Port Klang has highest container rollover percentage of 58.45% in 2021 By submitting this form, I agree to receive logistics related news and marketing updates from A. P. Moller-Maersk and its affiliated companies via e-mail. What is the accuracy of GoComet's port delay data? Supported byGoComet platforms real-time container trackingdata, our machine learning algorithm calculates congestion/delays at ports based on the turnaround times of these containers at a given arrival/departure port. Heard on: President Joe Biden addressed was at the Port of Los Angeles on Friday. GoComets port congestion tracker analyzes more than 45000 containerized shipments per month at major ports across US, EU, EMEA and SEA regions. But as of the beginning of January, there over 100 container ships waiting for a berth off the coast of the LA-Long Beach gateway or slow-steaming en route. MIDF Research expects MMC Corporation Berhad (MMC Corp)s container throughput to recover this year, in line with the global growth recovery. Exclusive news, data and analytics for financial market professionals, Reporting by Jeslyn Lerh; editing by Richard Pullin, JP Morgan to buy First Republic's assets and assume deposits, PNC, JPMorgan putting in final bids for First Republic Bank in FDIC auction, Oil drops as US rate hike concern, weak China data offset OPEC+ cuts, UBS looks to bring Naratil back and mulls Swiss bank spin-off, NZZ am Sonntag reports. Youll need to partner with logistics experts that can help you at every turn. Can I get port congestion data via direct integration? Of the nation's ten busiest ports by volume, it is estimated that at least seven face congestion regularly. New ships are not ready until 2023. Freight rates and port congestion to decline in 2023 Effective logistics management is essentia India provides importers with ad hoc exemption on interest due to customs charges that were delayed due to a system failure. Most carriers are booked 4-6 weeks in advance. BMT's Jin said more than 60% or 65% of shippers were remaining on spot rates. Its imperative that youre ready for future changes. PDRM launches Op Lancar to ensure smooth traffic flow | Malaysia | The The planned acquisition of LF Logistics is the latest in a series of deals since the middle of last year which also includes two e-commerce logistics companies - Visible Supply Chain Management and B2C Europe Holding in the US and Europe. No congestion, Sepanggar Bay Container Port operating efficiently, Sabah PH reps support limiting CMs term to two terms.