Bad times at Shenzhen
We have to get back to maritime reports again since it looks like port congestion will be one of the hottest topics this year. The map above shows the traffic routes of the Shenzhen region as well as the vessels in the area. Despite allegations that the south-Chinese port congestion was a non-issue it looks like ports are operating below 50% capacity.
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World Container Index
You’ve probably seen a dozen of these, this is a standard 40-ft container used for shipping almost everything. Freight cost benchmarking and maritime research Drewry publishes an index that tracks the cost of 8 major East – West shipping routes for these 40ft containers. It represents a composite price for container freight rates as well as surcharges as peak season fees, port fees etc. The World Container Index chart shows the index has passed USD 6000 this week. It was below USD 5000 last month and what is more important: it was quoted sub USD 2000 just a year ago. That is more that 300% price increase in just 12 months (during vaccine rollout). And now Chinese ports are being shut down again…
Primus EcoView April 2021 – Notes on Global Economy and Financial Markets
In this overview we share our macro and technical views about global economy and financial markets, and we try to give you some insight to our strategies and methods that we follow during our investment decisions. Just treat it as food for thoughts, and if you find something exciting in it, feel free to contact us for further detailed discussions.
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