All articles tagged with #lunarnewyear
Cathay Pacific has announced a reduction in its flight schedule by an average of 12 flights per day until the end of February. This decision aims to minimize disruptions during the busy lunar new year travel period. CEO Ronald Lam stated that measures have been taken to ensure normal operations during this peak time.
Due to Houthi rebel attacks in the Red Sea disrupting shipping routes, exporters are increasingly turning to the China-Europe Railway Express as an alternative, especially with the upcoming Lunar New Year exacerbating the demand for timely deliveries. The attacks have led major shipping companies to avoid the Suez Canal, causing delays and rerouting around the Cape of Good Hope, which adds significant time to voyages. While rail transport is more expensive, it offers a faster alternative to sea freight, with some analysts suggesting a potential doubling in its use. However, the situation is complex due to the Russian invasion of Ukraine affecting rail routes. The disruptions are expected to lead to increased freight rates and container costs, with significant economic implications for global trade.