Thanks to the obvious cost advantage, the current global maritime transport volume in the total trade transport accounted for more than 90%, and container shipping as one of the most important maritime transport methods, its trade amount accounted for more than 80% of the amount of maritime trade, the impact on global trade is huge.
According to publicly available data, the latest Shanghai Shipping Exchange's Shanghai Export Container Composite Tariff Index was 2562.12 points, down 10% from the previous period, and has fallen for 13 consecutive weeks. In addition, the Deloitte World Container Tariff Index (WCI) has fallen for 28 consecutive weeks, and the Baltic Dry Index is currently at a low level within the last two years.
Since this year, the global container shipping market in general has continued the market since the second half of last year, container shipping prices reached the peak at the beginning of this year and began to fluctuate, especially by the high inflation rate in Europe and the United States, geopolitical conflicts in some regions, the continued spread of the epidemic and other factors, the global shipping market demand has shrunk significantly. In addition, the imbalance of international capacity allocation and the decrease of orders in the shipbuilding market also had an impact on the shipping prices.
At present, the moderate fall in international shipping prices is reasonable, but a continuous plunge or even a precipitous fall is not conducive to the healthy development of the entire shipping market. Although shipping costs do not account for the highest proportion of the overall foreign trade costs, the drastic fluctuations in freight rates will inevitably be transmitted to the foreign trade market, which in turn will affect the smooth operation of the supply chain of the entire foreign trade industry chain.
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