One container is hard to find, and the freight is doubled! You can’t imagine the popularity of shipping!
September 24, 2021 source: China News Network
As of September 22, since August, the average increase of A-share shipping concept stocks has exceeded 26%. Among them, COSCO Haifa, China Merchants ship and COSCO Haite rose by more than 40%, and Changhang Phoenix and Strait shares rose by more than 30%; Hong Kong stocks and shipping stocks also rose to varying degrees.
The rise in freight rates has brought huge profits to shipping companies.
Since the beginning of 2021, the stock prices of COSCO Haikong and Zhonggu logistics have more than doubled. In addition, COSCO Haite and COSCO Haifa increased by more than 70%.
According to the statistics of the export trade section of Yiwu Bureau of Commerce, the price of container shipping charges exported from Ningbo port has increased rapidly.
Among them, the freight price of the US West Route in August 2020 was US $4400 / container, which has risen to US $18000 / container in August 2021, up four times; The freight price of Latin American routes before June 2020 was US $1200-1300 / container, which has increased tenfold to US $14000 / container in August 2021.
“The new crown epidemic has led to a reduction in transport efficiency in the whole shipping market”. A marine company staff member has been reflected that by the repeated and repeated effects of the epidemic, the time of shipment to some ports in its city has been greatly extended to more than 30 hours. The contradiction between supply and demand has promoted the rise of freight rates.
As the industrial chain and supply chain of many countries in the world have been greatly impacted by the epidemic, while the epidemic in China has been effectively controlled and the industrial chain and supply chain have been well protected, the demand for China’s import and export trade has increased significantly.
In the first half of 2021, China’s import and export scale reached the best level in the same period in history. The total import and export of goods was 18065.1 billion yuan, a year-on-year increase of 27.1%. Among them, the export was 9849.3 billion yuan, a year-on-year increase of 28.1%; Imports amounted to 8215.7 billion yuan, a year-on-year increase of 25.9%. In August, China’s total import and export of goods was 3429.3 billion yuan, a year-on-year increase of 18.9%, 7.4 percentage points faster than that in July.
Since last year, European and American ports have been affected by the epidemic, resulting in slow return of empty containers, forming a regional structural shortage of containers.
Will shipping prices rise?
According to media reports, in the peak season of exporting Christmas products overseas in August and September, the problem of “unable to pay the freight of containers, even if they can afford, they can’t book containers” has given many Yiwu vendors a headache.
During this period, the company’s sales are very good, but the current rising sea logistics has become a challenge for the development of the enterprise. The company now only transports the freight to the west coast port of the United States every month, which is 50 million yuan more than in the past. At the same time, the price rises, but the logistics is 3 to 4 weeks slower than in the past.
The good news is that since September, many shipping companies have successively announced that they will suspend the rise of spot freight. More than half of the world’s top 10 shipping companies have followed up the policy of “no rise in freight”.
Before the overseas epidemic was effectively controlled, in the short term, the demand for centralized transportation is still strong. The continuous and repeated epidemic has always restricted the effective supply, and the high freight rate continues to rise.
Previously, the Ministry of transport will continue to implement relevant measures of stabilizing foreign trade with the Ministry of Commerce and other departments, and guide international liner companies to continuously increase the supply capacity of Chinese mainland export routes while improving the efficiency of container turnover. “Cooperate with market regulators to strengthen the regulation of charges for maritime ports and investigate illegal charges in accordance with the law”.
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