Thai export sector hit by rising shipment costs, labour shortage

[webfact]

Thai export sector hit by rising shipment costs, labour shortage

By The Nation

 

 

Thailand’s private sector is confident the global economic outlook will improve next year, said Kalin Sarasin, chairman of the Thai Chamber of Commerce.

 

However, he said the Thai export sector is facing rising shipment costs and a shortage of both containers and labour.

 

The private sector is also worried that prolonged anti-government rallies could dent consumer spending. He urged the government to seek ways to solve the political turmoil peacefully.

 

Meanwhile Thanavat Phonvichai, president of the University of the Thai Chamber of Commerce (UTCC), expects to see the economy improve in the fourth quarter this year with reduced contraction of 4-5 per cent.

 

Source: https://www.nationthailand.com/business/30398629

 

-- © Copyright The Nation Thailand 2020-11-27

 

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[ThailandRyan]

Then where are all of the capital inflows coming from that are keeping the baht afloat instead of it crashing if there are fewer rxlorfs and higher labor costs. Somethings rotten here. Plus how can the economy be recovering if there is less spending.  House of cards comes to mind. 

[welshguy]

The private sector is also worried that prolonged anti-government rallies could dent consumer spending. He urged the government to seek ways to solve the political turmoil peacefully.

 

Good luck with that!

[PatOngo]

3 hours ago, webfact said:

labour shortage

In a country of 65 plus million people?  I think a shortage of desire to work!

[johng]

No mention of the "strength" of the Baht which makes exports more expensive/less competitive.

[Natai Beach]

14 minutes ago, johng said:

No mention of the "strength" of the Baht which makes exports more expensive/less competitive.

A victim of their own success firstly and secondly because of huge amounts of money printing/quantitive easing of other countries currencies resulting in devaluation. 
 

Not much they can do about it without being accused of currency manipulation. 

There are winners and losers with a high baht. Nice to see my 800,000 increasing in value and cheaper imported goods. 

[herfiehandbag]

55 minutes ago, PatOngo said:

In a country of 65 plus million people?  I think a shortage of desire to work!

Perhaps driven by the fact that for many occupations the daily "minimum" wage has become the standard.

 

All over the place you see people assiduously beavering away at a wide range of occupations. What is the common streak ? They are all their own businesses.

[ThailandRyan]

2 hours ago, ThailandRyan said:

Then where are all of the capital inflows coming from that are keeping the baht afloat instead of it crashing if there are fewer rxlorfs and higher labor costs. Somethings rotten here. Plus how can the economy be recovering if there is less spending.  House of cards comes to mind. 

Should say exports not rxlorfs...not sure what's occurring, I checked it before i saved it.

[hotchilli]

4 hours ago, ThailandRyan said:

Then where are all of the capital inflows coming from that are keeping the baht afloat instead of it crashing if there are fewer rxlorfs and higher labor costs. Somethings rotten here. Plus how can the economy be recovering if there is less spending.  House of cards comes to mind. 

Yes something doesn't add up.

[bodga]

one minute there's 3 million unemployed, the next theres a labout shortage, C,mon which one is it?

[ThailandRyan]

9 minutes ago, bodga said:

one minute there's 3 million unemployed, the next theres a labout shortage, C,mon which one is it?

Labor shortage for the cheap type of labor they expect.  Thai's will not work for peanuts, so that is why the few workers on the docks in loading and unloading.  To labor strenuous for your Average Thai.  The most laborious think I have ever observed a Thai to do was use their smartphone. 

[bodga]

6 minutes ago, ThailandRyan said:

The most laborious think I have ever observed a Thai to do was use their smartphone. 

They'd  need a  rest after that!

[Scot123]

5 hours ago, Natai Beach said:

A victim of their own success firstly and secondly because of huge amounts of money printing/quantitive easing of other countries currencies resulting in devaluation. 
 

Not much they can do about it without being accused of currency manipulation. 

There are winners and losers with a high baht. Nice to see my 800,000 increasing in value and cheaper imported goods. 

What cheaper imports? 

[trainman34014]

5 hours ago, PatOngo said:

In a country of 65 plus million people?  I think a shortage of desire to work!

Exactly; 50% or more of the Male population are sitting on their haunches smoking and drinking or swinging in their hammocks whilst the Mrs works all the hours on the clock at the local market !

[Scot123]

5 hours ago, herfiehandbag said:

Perhaps driven by the fact that for many occupations the daily "minimum" wage has become the standard.

 

All over the place you see people assiduously beavering away at a wide range of occupations. What is the common streak ? They are all their own businesses.

Sometimes when I read statements on here I think I lived in another Thailand where children lived off their parents with no jobs, men hardly working or just enough to buy their drink for the day. I saw people hiding from the debt collectors and scraping a living day to day. Yep seen lots of drinking at the village shop all day. 

[DaLa]

8 minutes ago, Scot123 said:

What cheaper imports? 

Well, absolutely everything that arrives here from the UK.  14th June 2016 it was 50, today around 40, so that's 25% cheaper. Additionally because the value of the shipment is calculated in Thai baht for import duty, that too is a saving. Unfortunately it doesn't always get passed onto the end purchaser, however , the importer is doing ok.

[Isaan sailor]

7 hours ago, ThailandRyan said:

Then where are all of the capital inflows coming from that are keeping the baht afloat instead of it crashing if there are fewer rxlorfs and higher labor costs. Somethings rotten here. Plus how can the economy be recovering if there is less spending.  House of cards comes to mind. 

That’s the key question.  Instead of blithely telling us about the foreign capital inflows—they should come clean and expose the individuals and/or countries hellbent on keeping the Baht at a most uncompetitive level.

[ChouDoufu]

10 hours ago, webfact said:

the Thai export sector is facing rising shipment costs and a shortage of both containers and labour

 

3 million unemployed.

global recession, shipping volumes down.

 

excess of ships, excess of containers.

excess of oil, excess of workers....

 

 

[HANGOVER TWO]

1 hour ago, Scot123 said:

What cheaper imports? 

Thai baht is stronger( worth more ) means better buying power. 

[Cake Monster]

9 hours ago, ThailandRyan said:

Then where are all of the capital inflows coming from that are keeping the baht afloat instead of it crashing if there are fewer rxlorfs and higher labor costs. Somethings rotten here. Plus how can the economy be recovering if there is less spending.  House of cards comes to mind. 

Any Liars, no matter who they are, sooner or later come unstuck, because they cannot remember the previous un-truths they have told, and therefore end up looking really stupid.

[puipuitom]

A message (woensdag 25 november 2020 )  from a freight forwarder. Normally a 20 ft container Bangkok - Eur Main port costs a US$ 800

 

At present, we have received information that in December, all shipping super high sea freight will reach USD4500, or higher sea freight.

With the following information, I hope you can learn more about the current market:
1.European ports were short of shipping positions at the end of November, as European sea freight reached USD3600 levels
2.Before the shipping companies opened the port of free boxes can be applied, has been compressed to 7 days, or even 5 days, and requires customers to carry containers need a suitcase list, which also proves that positions and containers are very tight.
3.Last but not least, all positions need to be seized half a month in advance to determine the position.
So far, all shipping companies have stopped booking, with only a few spaces at the end of November..