6 July 2007
Shanghai Congestion

Shanghai port and main ports China are currently experiencing congestion. This has been due to the Chinese Government  announcing a substantial decrease on the Export Duty refund for over 2000 commodities from July 1st, 2007. All exporters were trying to catch the last sailings before the end of June in order to avoid a possible loss from 2 - 10 % of the cargo value. The sudden increase of export volumes has been the main cause of this congestion. Several terminals have temporarily closed and stopped accepting containers. Many of the shipping lines have suspended new bookings for the next weeks in July. The rest have announced there would be no space guaranteed. We expect this situation will continue for a few weeks, before total congestion has died down. All major consolidators at origin have already sent similar notification to all clients, informing them of this situation

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