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China: U.S.-bound ocean cargo bookings from China surge 277 pct
Container bookings placed in the United States for shipments from China jumped 277 percent, seven days after a temporary rollback of reciprocal tariffs between the two countries, container-tracking software provider Vizion said on Wednesday. The average bookings as of May 14 soared 277 percent to 21,530 20-foot equivalent units (TEUs), compared to 5,709 TEUs for the average for the seven days that ended on May 5, Reuters reported, citing Ben Tracy, Vizion's vice president of strategic business development. A Shanghai-headquartered international logistics service provider that partners with over 100 major shipping lines globally has also seen momentum pick up in recent days. It reported that freight rates from Shanghai to the East Coast of the U.S. for a 40-foot container have already climbed to between 4,000 and 4,200 U.S. dollars. "This chart shows the pricing trend for shipping from Shanghai to the East Coast of the U.S. The yellow line represents the rate for shipping a 40-foot general-purpose (GP) container. From May 15, there's a clear increase of about 500 to 700 U.S. dollars. Between May 15 and May 31, the rates are expected to remain relatively firm," said Lei Lei, a staff member responsible for U.S. and Canada-bound routes at a logistics service platform. Cross-border e-commerce sellers have moved swiftly in response. Sellers in sectors like furniture, fitness equipment, and mechanical components rush to secure bookings and replenish overseas warehouses within the 90-day "window period." Traditional exporters are expected to reach peak shipping volume after June. As demand rapidly intensifies, shipping companies are racing to restore routes and bring back capacity. "By the end of May, we will see a lot of route realignments and the resumption of vessels working overtime. We expect capacity to be back to pre-tariff-hike levels by early June. June and July are usually a modest peak season for U.S.-bound shipments, and combined with previously delayed cargo, freight rates are likely to remain on the rise from late May through early June, and throughout July," said Lei. The video shows: Shanghai, China - recent 1. Various of staff members of international logistics service company answering customer calls, communicating with clients online, assisting clients with placing orders 2. Various of display showing shipping costs, pricing trend 3. SOUNDBITE (Chinese) Lei Lei, staff member, logistics service platform (partially overlaid with shot 4): "This chart shows the pricing trend for shipping from Shanghai to the East Coast of the U.S. The yellow line represents the rate for shipping a 40-foot general-purpose (GP) container. From May 15, there's a clear increase of about 500 to 700 U.S. dollars. Between May 15 and May 31, the rates are expected to remain relatively firm." ++SHOT OVERLAYING SOUNDBITE++ 4. Various of Lei showing reporter pricing trend of shipping; display showing trend ++SHOT OVERLAYING SOUNDBITE++ 5. Staff members of cross-border logistics company at work Changzhou City, Jiangsu Province, east China - Recent 6. Trucks at warehouse 7. Various of shelves, forklift working in warehouse Shanghai, China - recent 8. SOUNDBITE (Chinese) Lei Lei, staff member, logistics service platform (starting with shot 7/partially overlaid with shot 9): "By the end of May, we will see a lot of route realignments and the resumption of vessels working overtime. We expect capacity to be back to pre-tariff-hike levels by early June. June and July are usually a modest peak season for U.S.-bound shipments, and combined with previously delayed cargo, freight rates are likely to remain on the rise from late May through early June, and throughout July." ++SHOT OVERLAYING SOUNDBITE++ FILE: China - Exact Date and Location Unknown 9. Various of trucks, containers vessel at port ++SHOT OVERLAYING SOUNDBITE++ FILE: Qingdao City, Shandong Province, east China - Nov 2, 2023 10. Various of vessels, containers, facilities at port FILE: Tianjin Municipality, north China - Date Unknown 11. Aerial shots of port operations, cranes loading, unloading cargo [Restrictions: No access Chinese mainland]
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