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Golden Week Advisory & Update – Planning & forecasting

Golden Week Advisory & Update – Planning & forecasting

Dear Clients & Partners

 

Trust this email finds you all strong and well – Please find below advisory:

 

China’s Golden Week – 1st to the 7th of October 2023 ..

 

China’s golden week commemorates the founding of the People’s Republic of China, the celebrations run from the 1st to the 7th of October.

 

During the holidays commercial and industrial activity slows as people take the opportunity to re-unite with family and friends, travel or simply take a break.

 

The impact of Golden Week on logistics    

China has seen a slowdown in exports in comparison to previous years – So it is possible that the Golden week celebrations will not be quite as disruptive as it has been in previous years. That said we are still likely to see demand ramp up over the next couple of weeks so the below points still apply:

  • China is the biggest exporter of goods in the world. The seven-day break during Golden Week sees most exports, factors and ports running at reduced capacity.
  • In the run up to the holidays manufacturers are running at full capacity so that they can ship orders out of China before the holidays. As a result, the capacities of the freight forwarders are overstretched in the weeks leading up to Golden Week.
  • Generally capacity shortages lead to higher prices for sea and air freight as well as more ‘rollovers’ – However the lower than normal volumed for this time of year, will hopefully translate to a less challenging time.

 

How to prepare    

 

Book your shipments well in advance to allow for your goods to arrive on time:

  • For ocean freight aim to book shipments 2 to 4 weeks earlier than normal
  • For air freight, 1-2 weeks ahead of time.

 

    Sources and articles that discuss this in greater detail    

 

[1] https://www.maersk.com/news/articles/2023/08/11/golden-week-2023

[2] https://blogs.sap.com/2022/09/22/how-to-prepare-for-logistics-for-chinas-golden-week-oct-1-7/

[3] https://www.freightos.com/freight-blog/golden-week-china/

[4] https://www.tj-chinafreight.com/golden-week-the-ultimate-faq-guide/

[5] https://www.supplychaindive.com/topic/freight/

 

If you have any questions, please get in touch with the Inter-Sped team.

 

Best regards,

JJ & The Inter-Sped team