As the Chinese New Year (CNY), also known as the Lunar New Year or Spring Festival, quickly approaches, importers must brace for the “Chinese New Year effect” on international shipping. This significant holiday in China is not just an important cultural event but also a period that heavily affects global supply chains, including causing notable shipping delays.
The Chinese New Year in 2024 runs from February 10 to February 24, concluding with the Lantern Festival. This period, spanning approximately 15 days, sees the first seven days celebrated as public holidays. During this time, a slowdown in business operations is common as many Chinese factories and businesses close well in advance, significantly impacting the global supply chain.
This holiday season is a time when many in China and other Asian countries engage in family reunions, leading to a major slowdown in production as factories and offices close to celebrate the new year. Carriers often adjust their service strings to accommodate the decreased output.
Further complicating the situation are recent changes in tariffs, which have led to a shift in sourcing to other countries like Vietnam. These modifications are having a significant impact on the capacity of vessels and sometimes result in rolled bookings.
As businesses begin slowing down or stopping production for the holiday, importers and exporters should use this timeline to plan their activities. It’s crucial to book shipments well in advance, anticipate delays and have contingency plans in place.
Booking shipments before the Chinese New Year is crucial due to the significant slowdown in manufacturing and shipping activities during this period. Typically, it’s advisable to book your shipments at least 3-4 weeks in advance. However, this can vary depending on several factors:
Given these considerations, a general recommendation is to start planning your shipment at least 4-6 weeks before the Chinese New Year. However, it’s best to consult with your freight forwarder or shipping company for specific advice based on your circumstances.
In navigating the complexities of logistics during the Chinese holiday, Ascent Global Logistics stands as your trusted partner. We specialize in providing time-critical solutions across various modes of transportation. Whether it’s air, ocean, or land transport, our international freight forwarding solutions ensure your shipments are managed efficiently and effectively, even during the busiest times.