headlines
Trans-Pacific route sea freight finally "cooled down"
In early October, sea freight, which had been rising for 15 consecutive months, finally declined.
According to FBX data, , on September 10, the shipping price from China/East Asia to the west coast of North America was 20,586 US dollars/FEU (40-foot container), which had dropped to 16,004 US dollars/FEU on October 8; from China/East Asia to the east coast of North America The shipping price also fell from US$22,173/FEU on September 10 to US$19,421/FEU on October 8.
Data from Drewry, another professional shipping research institution, shows that on September 30, the shipping price from Shanghai to Los Angeles was US$12,172/FEU, and on October 7 it was US$11,173/FEU, a decrease of 8.2%. ; The sea freight price from Shanghai to New York was US$15,849/FEU on September 30 and US$15,110/FEU on October 7, a decrease of 4.7%.
According to the " Nihon Keizai Shimbun " report, an executive of a Shanghai-based freight company said that in the past four days, the freight for shipping a 40-foot standard container from China to the U.S. West Coast has dropped from about US$15,000 to slightly less. It is more than 8,000 US dollars, dropped by nearly half, while the shipping fee to East Coast dropped from more than 20,000 US dollars to less than 15,000 US dollars, a drop of more than a quarter.
However, some analysts said that the shipping company did not actually announce a price reduction this time, and freight forwarders at all levels sold off shipping space, which was the main reason for the sharp drop in ocean freight.
In any case, for foreign trade companies, a downward trend in shipping costs is always a good thing.
data
In the first three quarters, my country's foreign trade exports increased by 22.7% year-on-year.
The General Administration of Customs announced that the total value of my country's foreign trade imports and exports in the first three quarters increased by 22.7% year-on-year. Foreign trade imports and exports have achieved positive growth for five consecutive quarters. In the first three quarters, the total value of my country's foreign trade import and export was 28.33 trillion yuan, a year-on-year increase of 22.7%. Among them, exports were 15.55 trillion yuan, a year-on-year increase of 22.7%; imports were 12.78 trillion yuan, a year-on-year increase of 22.6%.
In the first three quarters, the growth rate of China's exports to the United States, the European Union , and Africa exceeded 20%, and the growth rate of China's exports to Latin America exceeded 40%.
In addition, the rapid growth of my country's high value-added export commodities in the first three quarters reflects the steady improvement of my country's foreign trade. Exports of automobiles, medical materials, and pharmaceuticals have doubled year-on-year, and exports of mechanical and electrical products have increased by 23% year-on-year. Among mechanical and electrical products, automatic data processing equipment and its components and mobile phones increased by 12% and 14.4% respectively.
The third largest port in the United States
has a serious cargo accumulation situation
According to India's "Economic Times" report on October 11, The Savannah Port, the third largest container port in the United States, currently has a serious cargo accumulation situation, and 80,000 containers are backlogged in Georgia. 's Savannah Port has 50% more containers than before, and nearly 700 of them have been stuck at the port for a month.
Many cargo ships have been waiting at the Port of Savannah for nine days. In a single afternoon, more than 20 cargo ships were blocked outside the port on the Atlantic coast of the United States.
Griff Lynch, director of the Georgia Port Authority in the United States, said that 4,500 containers were piled up and stranded at the terminal for at least three weeks last month. "This is ridiculous."
The Port of Savannah is the third-largest container port in the United States, behind Los Angeles-Long Beach and New York-New Jersey. It has nine berths for container ships and ample land for expansion, but now the yards here are full. .
On October 13, local time, US President Biden made a public speech, announcing that the two largest ports in the United States, the Port of Los Angeles and the Port of Long Beach, would implement a 24-hour-a-day, 7-day-a-week business model. To solve the problem of cargo congestion at ports , and allow domestic cargo trucks to transport cargo at night when traffic is not congested, strengthening the consumer goods supply chain.
Foreign traders in the United States who ship goods must pay attention to the current port congestion situation, communicate with customers in a timely manner, and ensure that they understand the current special situation!
The U.S. trade deficit in August rose to a record high
On October 5, local time, the U.S. Department of Commerce stated that due to the impact of the new crown epidemic and supply restrictions, the U.S. trade deficit surged 4.2% month-on-month to $73.3 billion in August. , a record high, higher than July’s $70.3 billion and June’s $73.2 billion. At the same time, the U.S. import and export volume increased slightly. In August, import volume increased by 1.4% month-on-month to $287 billion; export volume increased to $213.7 billion, an increase of 0.5% from July.
Although overall U.S. import and export volumes showed an upward trend in August, global supply chain problems continued to intensify. As a severe shortage of semiconductors forced automakers to reduce production, exports of automobiles and parts fell by 8%, and imports also fell by 5.2%. Economists say U.S. import growth is likely to slow in the coming months as demand from U.S. consumers cools.
Britain's largest port is severely congested
Britain's largest port Delays at the port of Felixstowe have made headlines in the British media. The port of Felixstowe, which receives nearly half of the UK's imported goods, is severely congested, and the average waiting time for container ships has surged from 5 days to nearly 10 days.
The headline article on the " Times " website on October 13th stated that because the capacity of the country's largest container port, Felixstowe Port, was saturated, a batch of cargo ships filled with toys and electronic products were diverted to other places on the 12th. . "I don't want to look like a 'Grinch,' but the Christmas shelves will be empty this year," said a trucking company manager.
Russell Group based modeling said congestion at Felixstowe could affect around $2.72 billion in UK imports between October 12 and December 25.
Maersk, the world's largest container shipping company, has diverted some ships from the port of Felixstowe in eastern England because the port has no place to stack containers amid a severe shortage of truck drivers.
Germany
Bulk trade prices hit a 47-year high
Data released by the German Federal Bureau of Statistics on October 12 showed that in September, Germany’s bulk trade wholesale prices increased by 13.2% year-on-year, the highest level in 47 years. The last time Germany had a higher growth rate was in June 1974, when it was affected by the world's first oil crisis.
Since the beginning of this year, German bulk trade wholesale prices have accelerated, especially in the third quarter: the increases in July and August were 11.3% and 12.3% respectively. Given that bulk trade is the hub between manufacturers and end customers, this development is seen as a bellwether showing future trends in inflation and . Currently, German inflation is 4.1%, higher than it has been since 1993. Experts say that by the end of this year, the inflation rate will continue to move towards 5%.
Eurasian Economic Union
Eurasian Economic Union Generalized System of Preferences Tariff preferences will be canceled from October 12
According to a notification from the Eurasian Economic Commission, starting from October 12, 2021, the Eurasian Economic Union will cancel the grant of goods exported to the alliance from China. GSP treatment, goods exported to Eurasian Economic Union member states will no longer enjoy GSP tariff preferences. Customs will no longer issue GSP certificates of origin for goods exported to Russia, Belarus and Kazakhstan from the same date.
In recent years, with the steady development of China's economy and the gradual improvement of its international trade status, more and more countries and regions have announced their "graduation" to China's GSP. For example, since 2015, the EU has stopped granting GSP tariff preferences to Chinese goods. Since April 2019, Japan has also stopped granting GSP benefits to Chinese goods.
Chile
China and Chilean customs implemented mutual recognition of "certified economic operators"
On October 8, the my country-Chile Customs mutual recognition arrangement for certified economic operators (AEO) was implemented.When Chinese companies export goods to Chilean AEO companies, It is necessary to fill in the AEO code of the Chilean consignee in the "Overseas Consignee Code" column in the "Overseas Consignee" column of the export declaration form and in the "Consignee AEO Code" column in the water and air freight manifest. . After confirming the identity of the Chilean AEO enterprise, my country's customs will provide relevant facilitation measures.
This is China’s first officially implemented customs AEO mutual recognition arrangement in South America. After the implementation of the mutual recognition arrangement, AEO companies from both countries will enjoy many conveniences provided by both parties, such as reducing the document review and cargo inspection rate, accelerating customs clearance, implementing priority inspections, and establishing liaison officers to communicate and solve problems encountered by enterprises during customs clearance. measure. The customs clearance time for goods from companies on both sides is expected to be significantly shortened, and trade costs such as ports, insurance, and logistics will also be reduced accordingly.
India
has made a final anti-dumping ruling on decorative paper
The Ministry of Commerce and Industry of India recently issued an announcement stating that it has made a final affirmative anti-dumping ruling on decorative paper originating in or imported from China and recommends the imposition of anti-dumping duties . Among them, Zhejiang Xia Wang Paper’s price is US$116/metric ton, Shandong Province Boxing County Ouhua Special Paper and Zibo Oumu Special Paper’s prices are both US$110/metric ton, and other manufacturers’ prices are US$542/metric ton.
Policy
Guangdong will trial the resumption of business visas for Hong Kong
According to the National Immigration Administration announcement, the National Exit-Entry Administration has decided to resume the application of business visas for mainland residents to Hong Kong in Guangdong Province, and applications can begin on October 11.
Starting from October 11, some employees of enterprises and institutions and individual industrial and commercial operators in Guangdong Province who go to Hong Kong to engage in business activities can apply to the Exit and Entry Administration Department of the Guangdong Provincial Public Security Bureau for a business endorsement to go to Hong Kong. Persons holding business visas should travel to Hong Kong through Hong Kong’s “ easy to come to Hong Kong ” program.
