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On March 29th, Fox News released a poll showing that nearly two-thirds of American voters surveyed are dissatisfied with President Trumps administration, the highest disapproval rate during his two terms. The conservative media outlets poll of 1,001 registered voters showed a 59% disapproval rate for Trump, an 8-point increase from a year ago, marking not only the highest disapproval rate since the start of his second term but also surpassing the record set during his first term; the approval rating, however, fell from 49% a year ago to 41%. The poll randomly sampled respondents from the U.S. voter registration list. Among Republican supporters, Trumps approval rating was 84%, down 8 percentage points from the same period last year, the lowest since the start of his second term. His disapproval rates among Democratic voters and independent voters reached 95% and 75%, respectively.Ukrainian President Zelensky: I have arrived in Jordan for an “important meeting”.On March 29th, amidst the global energy crisis and soaring fuel prices, Egyptian Prime Minister Madbouly announced on the 28th a series of energy-saving measures to cope with the impact. Egypt will slow down the implementation of large-scale national projects involving high gasoline and diesel consumption for at least two months, while reducing fuel rations for all government vehicles by 30%. Madbouly also stated that, except for the service and manufacturing sectors, Egypts public and private sectors will implement remote work every Sunday in April, the first working day of each week. Given Egypts heavy reliance on energy imports, the government had previously raised fuel prices and public transportation fares to cope with global energy market volatility.March 29th - According to disclosures by the Hong Kong Stock Exchange, Manycore Tech Inc., a space intelligence unicorn company, updated its post-hearing information set, signifying that the company has successfully passed the Hong Kong Stock Exchanges listing hearing. JPMorgan Chase and CCB International are the joint sponsors for this IPO. If the listing is successfully completed, Manycore Tech will become the "worlds first listed space intelligence company," and also the first of the "Six Little Dragons of Hangzhou" to complete an IPO.March 29th - Starting today (March 29th), many European countries have begun observing daylight saving time, meaning that trading hours in European financial markets will be one hour earlier than during winter time. Specifically, starting next Monday, European stock trading hours will be 15:00-23:30 Beijing time. The release times of economic data from various European countries will also be one hour earlier than during winter time. Please take note.

International shipping prices have suddenly fallen sharply. Is there a hope for a complete restoration of the global supply chain?

Oct 26, 2021 11:05

International shipping prices have suddenly fallen sharply in recent days. The freight rate of standard containers from China to the west coast of the United States has fallen from US$20,000 in early September to US$16,000, a drop of more than 20%. Some freight companies even pointed out that the shipping costs from Ningbo Port and Shanghai to the West Coast of the United States have fallen from the cumulative increase in the past three months in the past three trading days. This situation has surprised many market observers.

But in any case, the adjustment of shipping prices between China and the United States has regained the dawn of many foreign trade SMEs that had suffered from soaring freight rates. Industry insiders pointed out that this price correction is a normal phenomenon. With the cyclical reduction of orders and increased shipping capacity, shipping prices may gradually return to a rational level.

Previously, on the one hand, the new crown epidemic disrupted the global shipping chain, resulting in a shortage of sailors and dockers, causing terminal congestion in many countries around the world, and the renewed demand brought about by the economic recovery and the warming of the trade environment has further promoted global ocean freight rates. Soaring. In this context, the China-Western US route has risen from the usual US$5,000 to US$22,000, causing many small and medium-sized foreign trade companies to complain because the value of goods with low added value cannot even cover the freight.

However, although the shipping prices of some routes such as China and the United States have corrected, they are still at a high level compared to before the epidemic. The market is still hoping that the tight capacity caused by the epidemic will be further eased in the future. But no matter as scheduled, dawn has already appeared. Recently, the Baltic Freight Index (FBX) data shows that the global container freight index has fallen from US$11,109 on September 10 to US$9,949 on October 8. Among them, the biggest decline is the popular route China/East Asia-West America. The index price has fallen for four consecutive weeks. It was 20,586 USD/FEU on September 10, and fell to 16,044 USD/FEU on October 8, a drop of nearly 5,000 USD. 22.25%.

There is even the latest quotation showing that the freight from Shenzhen/Yantian Port to Los Angeles/Long Beach Port in the United States has dropped to US$8,300, which is directly cut in comparison to the Baltic Freight Index (FBX) price. However, some insiders said that the sharply lower than the market price may be a temporary adjustment to release the position, or it may be a "scalper" dumping the counter to lower the price.

Insiders in the shipping industry pointed out that, on the one hand, shipping capacity began to recover as the impact of the epidemic continued to fade. On the other hand, the domestic National Day holiday superimposed on the power and production restrictions of manufacturing companies also reduced some of the transportation demand. Under the two-way impact of the supply and demand of shipping resources, the situation It's changed. However, despite the recent correction of shipping prices, they are still at a high level, and continue to exert great pressure on global trade and consumption costs. The frequent shortage of shipping spaces is still waiting for the market outlook to be further eased.

Analysts pointed out that since the outbreak of the epidemic, the number of crew members in the global shipping industry has decreased by as much as 200,000. In addition, the loading and unloading capacity of the port has reached its limit, the shortage of trailer drivers, and the lack of supporting capacity in the rear are all because the epidemic has affected the efficiency of turnover. Once the epidemic recurs in the future, shipping capacity will still face pressure.

However, analysts also emphasized that from a rational point of view, the freight rate from China to the US of more than US$20,000 is not normal. After the Spring Festival next year, the freight rate will continue to return to normal prices. The recent price drop is precisely predictable. However, next year, the continued correction of shipping prices will still be a certain trend.

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