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Outlook for Future Trends in Maritime Transportation

JiaQiang 2024-09-19 09:36 49 readings

Outlook for Future Trends in Maritime Transportation


As the main mode of transportation for global trade, the increase in shipping costs has had a significant impact on China's foreign trade exports and the global trade landscape. For China's foreign trade exports, the increase in freight costs has led to higher export costs and weakened the competitiveness of Chinese products in the international market. Especially for labor-intensive products with low added value, such as textiles, toys, etc., the impact of rising shipping costs is more pronounced. Data shows that labor-intensive products account for a large proportion of China's export products, and the increase in shipping costs may lead to a decrease in the export volume of these products, thereby affecting China's total foreign trade exports.

Meanwhile, the increase in shipping costs has also affected the global trade landscape. Some countries and regions may reduce their imports of Chinese products due to rising shipping costs and instead seek other supply channels. This will lead to changes in global trade flows, potentially resulting in the rise of some emerging markets and adjustments in traditional markets. For example, some Southeast Asian countries may gain more opportunities in the international market due to relatively low shipping costs, thereby creating certain competitive pressure on China's exports. In addition, the increase in shipping costs may also lead to instability in the global supply chain, affecting the production and business decisions of enterprises, and further exacerbating the uncertainty of global trade.

The future trend of ocean freight is full of uncertainty and is influenced by multiple factors. On the one hand, the launch of new ships and the opening of new routes are expected to bring some relief to the market. In recent years, with the increasing demand for maritime transportation, major shipping companies have placed orders to build new ships. According to statistics, the global shipping fleet may expand by 10% this year, with newly delivered cargo ships adding a capacity of 1.14 million TEUs, and an additional capacity of 2 million TEUs expected within the year. Such a large-scale increase in transportation capacity may lead to an oversupply of sea freight capacity, thereby driving down shipping costs.

At the same time, the newly opened routes also provide more choices for the market. For example, with the melting of Arctic glaciers, a new sea passage has emerged on the northern coast of Russia. Last year, the number of ships passing through increased to 46, and it is expected that by 2020, approximately 5% to 15% of Chinese commercial transport ships will pass through this route. The opening of this route will greatly save time and transportation costs, and bring significant benefits to international logistics and trade.

However, on the other hand, the situation remains unclear. The tense situation in the Red Sea region continues, and many cargo ships have to detour around the Cape of Good Hope, which not only increases transportation costs and time, but also reduces the transportation capacity of shipping companies. At present, it is difficult to determine when the Red Sea shipping will resume normal operations, which has brought great uncertainty to the trend of sea freight costs.

In addition, changes in the international trade situation will also have an impact on shipping costs. The weak global economic growth, the risk of recession in major economies, and the slowdown in consumer spending expectations may all lead to a decrease in demand for maritime transportation. However, during the peak season of international freight (August to October), the market has a strong demand for transportation capacity, which may support shipping costs.

In summary, the future trend of ocean freight costs is difficult to predict and requires comprehensive consideration of various factors.