On February 12, the year of the Rat ends, and the year of the Ox begins. In Chinese culture, the ox is a valued animal. Due to its role in agriculture, hard work and honesty are positive traits of an ox. People born in the year of the Ox are loyal, honest, steadfast, and hard workers.
What is Lunar New Year?
Lunar New Year, which is commonly referred to as Chinese New Year or Spring Festival, celebrates the beginning of the new year on the traditional Chinese calendar. Imagine a single holiday that’s not just one day long, but at least a weeklong of celebration. Children all around Asia receive red envelopes with cash inside as good-fortune gifts. Others spend this time paying their debts, buying new clothes, and finding the best fruits and sweets. Families gather around for large meals. Cities hold impressive firework displays. Everyone wishes each other good fortune for the coming new year!
How long is the holiday?
Lunar New Year is not a fixed day each year as it depends on the cycles of the moon. Lunar New Year can begin in late January or in early-to-mid February. This year, it begins on February 12, 2021. Factories in China often close for up to 2-3 weeks in order to give their workers, who often live on the factory premises, time to travel home to be with their families. This year, however, the China government has recommended that workers stay at their workplace during the holiday to minimize the spread of COVID-19, which has reignited in sections of northern China.
Below is a country-by-country schedule of closures, based on government-announced holiday observance:
China: February 11 – 17
Hong Kong: February 12 – 15
Indonesia: February 12
Korea: February 11 – 12
Malaysia: February 12 – 13
Philippines: February 12
Taiwan: February 10 – 16
Vietnam: February 10 – 17
*No public holidays observed in India or Cambodia during February.
How do you prepare for Chinese New Year?
Due to most businesses being shut down during this time, U.S. importers must be prepared for this time in advance. Planning ahead can help you achieve maximum benefit to your air freight, ocean freight, and logistics schedule and cost. Below is a checklist to get ready for this time:
- Have you polled your suppliers for their closure dates?
- Are all orders lodged?
- Do your orders have confirmed bookings?
- This year, ocean carriers have not eliminated capacity in the China to U.S. market, but space is still very tight.
- Air freight demand is still high because ocean freight is so full.
- Any drop in air rates is mostly temporary, as fuel surcharges may be rising in the coming weeks.
- Have you adjusted your lead times?
- Origin ports are continuing to experience congestion and wait times at destination ports, like LA/LB, are high.
- Have a secondary partner to lean on in the case that your primary partner experiences driver shortages or congestion issues due to COVID-19.
Pegasus Logistics Group has an experienced, knowledgeable, and creative group of Sales and Global Solutions team members who are committed to finding logistics solutions available to you. Our strong partner network and team of innovative problem solvers are here to help mitigate disruption during the Chinese New Year. For more information, please contact your Pegasus representative directly, email firstname.lastname@example.org, or call 800-997-7226.
Wish You A Good Year & Good Health