From October 1 to 7th. in 2021, China celebrates its Golden Week. This yearly event is well-known in logistics as it stops production at manufacturing facilities, creating a ripple effect for U.S. forwarders and their end customers. For this reason, Freight forwarders, globally, prepare for the Holiday Weeks in advance.
During the weeks preceding Golden Week, importers rush to ship cargo from China to the U.S before the closures. This artificial spike in volume will cause tightened capacity for ocean and air, and historically a bump in prices.
This year the regions most challenged by Golden Week are North America, Asia-Pacific, and Northern Europe. Until now, carriers have suspended all non-essential dry-docking of their ships and persuaded the owners of their hired vessels to do the same, to take advantage of the highly elevated rates.
For that reason, the main recommendation is that if you are shipping from Asia and want your cargo to arrive in time for holidays, you will need to book your shipments well in advance of the Golden Week closures.
For more tips on how to manage Golden Week and the upcoming Peak Season check out our infographic on “Managing Expectations for Peak Season”
– Explore expedited transportation options.
– Highlight your priorities. Keep clear communication with your shipping allies.
– Be flexible.
– Explore nighttime or pre-pull options when available.
– Consider alternative options in your supply chain.