The economic trend remains unchanged
Good volume growth year-on-year
January “One Belt One Road” container shipping volume
In 2021, facing the still complicated and severe foreign trade situation, China will continue to strengthen policy support and maintain policy continuity, stability and sustainability. In January, China’s foreign trade situation had a good start. The volume of import and export container shipping continued its strong momentum in the second half of 2020, with a significant increase in comparison.
In this issue, the “Belt and Road” container shipping volume index closed at 145.27 points, a decrease of 2.0% from the previous issue and a year-on-year increase of 8.3%. In January, China’s export situation remained stable, and the impact of the suspension of work before the Spring Festival was significantly reduced, and the volume of exported containers showed an increase in the same period. In this issue, the export container shipping volume index from China (Shanghai) to countries along the “One Road” closed at 130.06 points, an increase of 2.1% from the previous issue and a year-on-year increase of 3.5%. In terms of regions, from Shanghai to the Russian Far East, South Asia, Southeast Asia, West Asia, Europe, Oceania and North Africa, the increase and decrease from the previous period were -1.5%, 11.5%, 1.9%, 1.0%, 1.5%, -8.3% and 16.5% respectively; The year-on-year changes were 5.8%, 4.7%, 3.4%, 2.7%, 3.0%, 7.2% and -3.7%. Before the Spring Festival, domestic demand shrank slightly, and January imports fell from the December 2020 high. In this issue, China (Shanghai)’s import container shipping volume index from countries along the “One Road” closed at 180.75 points, a decrease of 8.2% from the previous issue and a year-on-year increase of 17.4%. In terms of regions, Shanghai’s increase and decrease from the Russian Far East, South Asia, Southeast Asia, West Asia, Europe, Oceania, and North Africa from the previous period were 2.7%, 14.6%, -10.8%, 5.2%, -4.5%,
-41.4% and -29.1%; the year-on-year increase and decrease were 4.8%, 14.9%, 18.5%, 15.7%, 17.5%, 14.2% and 25.8% respectively.
“Maritime Silk Road” shipping market in February
In February, the “Maritime Silk Road” composite index showed an upward trend, closing at 159.00 points, an increase of 4.4% from the previous period. Among the sub-indices, the container freight index continued its strong trend, with both export and import containers rising, while the freight rates of imported dry bulk and imported crude oil fell.
According to the classification index, the impact of the epidemic on the supply chain continues to be fermented, and conditions such as disordered shipping schedules, insufficient empty containers at export ports, and congestion at destination ports still exist. Although liner companies have increased their capacity as much as possible, they still cannot fully meet market demand. However, after successive upward adjustments in the previous period, the market freight rates of various routes are at a relatively high level, and the upward momentum of the spot market freight rates has slowed down. In this issue, the “Maritime Silk Road” export container freight index closed at 224.44 points, an increase of 14.8% from the previous issue. China’s import demand has been improving steadily. Coupled with the export container transportation market, the freight rate of imported containers has shown a good upward trend in the past two months. This issue of the “Maritime Silk Road” import container freight index closed at 141.26 points, an increase of 10.7% from the previous issue. In February, the imported dry bulk shipping market first fell and then rose, and the overall level of freight rates declined compared with the previous period. In the early days of the Spring Festival, the market atmosphere was deserted, and freight rates continued to fall. However, starting from the middle of the month, iron ore, coal, and grain have all started to work together, the market has performed strongly, and freight rates have rebounded sharply. In February, the import dry bulk freight index closed at 138.71 points, down 13.8% from the previous period. The import crude oil transportation market continues to be sluggish. The fundamentals of more ships and less cargo are still inclined to charterers. Shipowners’ earnings have basically bottomed out, and freight rates have dropped. In this issue, the imported crude oil freight index closed at 36.15 points, down 12.7% from the previous issue.