China’s Tianjin Port severely congested amid bad weather

21 March 2013 06:06  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Tianjin Port is severely congested amid bad weather, causing vessels to be delayed while South Korea’s Daesan port was heard to have been shut earlier in the week due to high winds, according to shipping and industry sources.

Bad weather continues to slow down operations in Tianjin Port and was causing vessels to miss their scheduled laytime.

Laytime refers to the time permitted for a ship to load and unload its cargoes.

“Every vessel I [chartered] was delayed. Sometimes for seven to eight days,” according to an Asian-based shipping broker.

In neighbouring South Korea Daesan Port had to be closed during the week for a while amid bad weather, according to industry sources. But, they were unable to confirm the duration of the closure.

It is not uncommon for the port to be closed intermittently during periods of bad weather, the sources added.

“Daesan [Port] always closes for a few hours...during bad weather as a precaution,” according to a South Korean charterer.

Despite the bad weather, freight rates in northeast Asia are stable-to-soft because of weak demand for prompt chemical cargoes and a slight oversupply of vessels for April loading.

Freight rates from South Korea to Ningbo and Taiwan were heard at $26-28/tonne (€20-22/tonne) for 5,000 tonne vessels for the week ended 21 March.

($1 = €0.77)

By: Muhamad Fadhil
+65 6780 4356

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