The Chinese New Year is upon us. Festivities begin on Saturday, February 10th to welcome in the year of the dragon. This two-week festival marks the start of a new Lunar year and ushers in a new animal in the Chinese zodiac to signify the next 12 months.
With the festivities beginning, it is essential to address potential disruptions which may impact global supply chains. The celebrations start on February 10th and will run through to February 24th which sees its end with the Chinese Lantern Festival.
It is essential to address potential disruptions which may impact global supply chains
During the celebrations, ocean ports, office and factory workers will limit their working hours. Some will actually stop completely. Along with the tensions we are seeing in the Red Sea, there will undoubtedly be issues with vessel availability and therefore, delivery times.
Vessel bookings are currently at full capacity, which drives increases in ocean freight rates and equipment shortages with many ocean carriers.
Speak to the experts
Here at Advantage Worldwide, we are skilled and knowledgeable when it comes to seeking solutions to disrupted supply chains. So please don’t hesitate to contact us as these challenges start to build within your own network.