Coronavirus / COVID-19 Operational Update
- Work Arrangements – Our teams are working as much as possible, guided by advice from local authorities to protect the well-being of our staff while maintaining maximum coverage and minimal operational disruption as possible
- In China, our team is operating either from our offices or their homes, and we have implemented tiered working hours.
- In Hong Kong, a portion of our staff is working from home while the rest is working from the office.
- Market Developments
- Factories in China are gradually resuming operations at a varying pace, a slow ramp-up in production and exports are still to be expected.
- Drayage in China: Various provinces and cities have imposed restrictions on the entry of non-residents and vehicles registered outside their localities. This has given rise to a shortage and/or rate increase of inland trucking in the mainland China as truck drivers have not been able to return from their hometowns to their work regions post-holiday. Advanced bookings of at least 2 days is required to secure trucking services.
- Air Freight: A large number of passenger and freighter flights to and from China have been cancelled, severely impacting capacity. Though freighter flights have gradually been reinstated from last week, with demand far outstripping supply, airfreight rates will likely be much higher than normal.
- Ocean Freight: All Chinese ports except Wuhan are currently operational. However, many container yards have yet to re-open, potentially causing equipment shortages.
- Global Port Developments
We will continue to monitor the situation closely and provide updates as we have them. Please contact your BOC Representative, if you have any questions.