Maritime prices go out "phenomenon" market derivative tools look forward to breaking
"Extended delivery caused compensation disputes, the exporter's profits are returned to zero, and they are worried that they can not pay for the delivery of the goods." In the face of the international shipping price season, there is even "a box of hardships" phenomenon, multiple According to industry, the price increase has weakened the profitability of some foreign trade enterprises in my country, and the impact on the long-term and smooth development of my country's shipping industry, which urgently needs the shipping derivative tools based on their own trade perspectives to relieve the difficulties.
The price is rising
As of September 17, China's export container freight index (CCFI) quoted 3156.86 points, rose 90.34% from the beginning of the year. In August, Shanghai to Rotterdam container shipping cost reached $ 13,787 / feu, up 617% year-on-year; Shanghai to Los Angeles container shipping cost reached 11362 US dollars / Feu, up 223.9% year-on-year.
Not only that, but the hot market in the shipping market is also overflowing to other transportation markets. For example, compared with the beginning of the year, Shanghai Ship Price Index SPI, International Tanker Cheap Comprehensive Index TPI, International Bad Quotation Comprehensive Index BPI, coastal dry bulk price comprehensive index rose over 11%, 7%, 85%, 9%.
"Currently, the international shipping market has a 'phenomenon' market." Chen Yu, an analyst at Founder Social Futures Research, said. For the price of the sea, Chen Wei believes that the epidemic has led to a sharp decline in ship turnover, and the power supply is insufficient, and the extermination of multi-country, multifloria to take quantitative loose policies, and superimpose the low water content of this year. The market is difficult to seek, and the price of dried goods is maintained at a high level.
Master Xiaoyan, the analysis of the Nankai futures market, further stated that from the perspective of the decomposition of the transportation cost of the European Central Bank, since the second quarter of 2020, demand has always occupied the most important status. In the short term, the marginal amount of demand will still occupy the main status of the transportation market in the short term without obvious recovery.
Several happy family
According to data, China's import and export of China's import and export was completed in August this year, the total value of $ 530.8 billion was increased by 28.8% year-on-year, and 5.7 percentage points were increased from $ 5,000 for 3 consecutive months. In addition, China extends imported from origin to Africa, North America and South America, tensile.
China's export mainly relying on container ships, imported mainly on dry bulk ships. my country's foreign trade import and export goods are completed through the shipping method, and the increase in sea price is significant to domestic import and export enterprises. "The rising price increases for shipping and foreign trade enterprises, which is the two days of the ice and fire." Chen Yu said.
On the one hand, the price of shipping has risen sharply, and the profitability of my country's shipping enterprises has greatly improved, and the amount of new ship orders is significantly improved. Fu Xiaoyan analysis believes that the cost of shipping company mainly includes port cost, loading and unloading costs, operating costs, fuel costs, containers operating costs, management costs, ship depreciation, ship interest, containers depreciation, and container interest. The cost is relatively large is ship interest, interest rate level maintenance low, making shipping companies have no greater growth in interest, but the supply structure shortage and demand recovery in the transportation market are double-overlapping, and the freight rate has already offset costs rise.
Taking COSCO, the operating income is 139.264 billion yuan in the first half of 2021, an increase of 88.06% year-on-year; net profit is 37.098 billion yuan, a year-on-year increase of 3162.31%; realization belonging to listed companies shareholders unless regular profit and loss It was 37.02 billion yuan, an increase of 4096.43% year-on-year.
On the other hand, for import and export enterprises, the freight rate has risen "100 no one." "Transport costs have increased leading to the extension of delivery cycles, it is easy to produce extension of delivery disputes, triggering compensation." A Chinese export company said that some exporters in the peers are worried about delivery, but they can only refuse new orders. .
"Ocean route container 'a box of hard-seeking' will be normal." The relevant person in charge of an international freight forwarding company said.
There are also export merchants. "The freight is too fast, the shipping cost of export goods is higher than the total value, and now the profits are complete, even losses."
From the point of view of import and export enterprises, Fu Xiaoyan, said: "Signing the way, most of them have long-term contracts between large trading companies and shipping companies, compared to reflect market conditions in terms of small business enterprises, the ability to resist is stronger freight rate increases. contract pricing, those who do not grasp the initiative in transportation tariffs rose by enterprises greater impact. "
Moreover, Chen Zhen said shipping prices will lead to imported raw materials prices rose transmitted to domestic production and processing enterprises, leading to increased production costs.
Shipping derivatives is expected to ease this predicament Bureau
The face of skyrocketing tariffs, Chen Zhen said that my country's foreign trade enterprises to avoid the risk of fluctuations in freight rates primarily by entering into long association's way ahead of time locked tariffs, but the actual effect is not ideal. Because tariffs or too fast, the owner is not high compliance rate, the owner is difficult to set the price of a long association with the space.
Fu Xiaoyan said the dry bulk shipping market applications Forward Freight Agreements (FFA) more, but in China accounted for dry bulk trade point of view, Chinese companies do not derive much benefit. Because most trade and production enterprises are passive acceptance of freight costs, and finally the costs to downstream consumers. According to the British FIS shipping brokerage firm statistics, participate in FFA trading of Chinese companies accounted for less than 10%. Marketing and shipping enterprises need to derivative instruments based on the perspective of their trade to alleviate predicament Bureau.
In fact, as early as 2013, the Dalian Commodity Exchange (referred to as "DCE") began to expand research and development of shipping futures, over the years through the study of 18 global shipping market segments, overall market size, degree of standardization, market a variety of structural factors, such as supply and demand, ultimately determine the physical delivery basis, coastal ports in eastern China to the US West coast container capacity for the design direction of the target species, and species characteristics make arrangements for the contract design rules, in 2019 SFC approved project, has completed the design work contract, the listing reporting and related preparatory work is an orderly way.
DCE party secretary, chairman Ran China recently conducted a special investigation when container capacity market-related cases and container capacity futures product development and other issues, said that after many years of accumulated experience in the market research industry and in-depth, the ability to trade all contracts through high-quality rules designed to control market risks, grasp the rhythm of opening up, to achieve linkage of the current regulation to ensure stable and healthy futures container capacity, function into full play.
COSCO Shipping Container Transport Limited chairman and general manager Yang Zhijian said advance shipping futures product innovation, to recognize the rise of cross-border electricity supplier changes brought about by trade and shipping buying and selling patterns of change, identify industry pain points and solve practical problems.
Ran Hua said the container shipping capacity for futures industry chain, middle and lower reaches provide an open, transparent, continuous container capacity price signals to help industry chain enterprises to better stabilize price fluctuations, stable production and operation, transportation powers for the implementation of the Platform, shipping is important to achieve power.
The price is rising
As of September 17, China's export container freight index (CCFI) quoted 3156.86 points, rose 90.34% from the beginning of the year. In August, Shanghai to Rotterdam container shipping cost reached $ 13,787 / feu, up 617% year-on-year; Shanghai to Los Angeles container shipping cost reached 11362 US dollars / Feu, up 223.9% year-on-year.
Not only that, but the hot market in the shipping market is also overflowing to other transportation markets. For example, compared with the beginning of the year, Shanghai Ship Price Index SPI, International Tanker Cheap Comprehensive Index TPI, International Bad Quotation Comprehensive Index BPI, coastal dry bulk price comprehensive index rose over 11%, 7%, 85%, 9%.
"Currently, the international shipping market has a 'phenomenon' market." Chen Yu, an analyst at Founder Social Futures Research, said. For the price of the sea, Chen Wei believes that the epidemic has led to a sharp decline in ship turnover, and the power supply is insufficient, and the extermination of multi-country, multifloria to take quantitative loose policies, and superimpose the low water content of this year. The market is difficult to seek, and the price of dried goods is maintained at a high level.
Master Xiaoyan, the analysis of the Nankai futures market, further stated that from the perspective of the decomposition of the transportation cost of the European Central Bank, since the second quarter of 2020, demand has always occupied the most important status. In the short term, the marginal amount of demand will still occupy the main status of the transportation market in the short term without obvious recovery.
Several happy family
According to data, China's import and export of China's import and export was completed in August this year, the total value of $ 530.8 billion was increased by 28.8% year-on-year, and 5.7 percentage points were increased from $ 5,000 for 3 consecutive months. In addition, China extends imported from origin to Africa, North America and South America, tensile.
China's export mainly relying on container ships, imported mainly on dry bulk ships. my country's foreign trade import and export goods are completed through the shipping method, and the increase in sea price is significant to domestic import and export enterprises. "The rising price increases for shipping and foreign trade enterprises, which is the two days of the ice and fire." Chen Yu said.
On the one hand, the price of shipping has risen sharply, and the profitability of my country's shipping enterprises has greatly improved, and the amount of new ship orders is significantly improved. Fu Xiaoyan analysis believes that the cost of shipping company mainly includes port cost, loading and unloading costs, operating costs, fuel costs, containers operating costs, management costs, ship depreciation, ship interest, containers depreciation, and container interest. The cost is relatively large is ship interest, interest rate level maintenance low, making shipping companies have no greater growth in interest, but the supply structure shortage and demand recovery in the transportation market are double-overlapping, and the freight rate has already offset costs rise.
Taking COSCO, the operating income is 139.264 billion yuan in the first half of 2021, an increase of 88.06% year-on-year; net profit is 37.098 billion yuan, a year-on-year increase of 3162.31%; realization belonging to listed companies shareholders unless regular profit and loss It was 37.02 billion yuan, an increase of 4096.43% year-on-year.
On the other hand, for import and export enterprises, the freight rate has risen "100 no one." "Transport costs have increased leading to the extension of delivery cycles, it is easy to produce extension of delivery disputes, triggering compensation." A Chinese export company said that some exporters in the peers are worried about delivery, but they can only refuse new orders. .
"Ocean route container 'a box of hard-seeking' will be normal." The relevant person in charge of an international freight forwarding company said.
There are also export merchants. "The freight is too fast, the shipping cost of export goods is higher than the total value, and now the profits are complete, even losses."
From the point of view of import and export enterprises, Fu Xiaoyan, said: "Signing the way, most of them have long-term contracts between large trading companies and shipping companies, compared to reflect market conditions in terms of small business enterprises, the ability to resist is stronger freight rate increases. contract pricing, those who do not grasp the initiative in transportation tariffs rose by enterprises greater impact. "
Moreover, Chen Zhen said shipping prices will lead to imported raw materials prices rose transmitted to domestic production and processing enterprises, leading to increased production costs.
Shipping derivatives is expected to ease this predicament Bureau
The face of skyrocketing tariffs, Chen Zhen said that my country's foreign trade enterprises to avoid the risk of fluctuations in freight rates primarily by entering into long association's way ahead of time locked tariffs, but the actual effect is not ideal. Because tariffs or too fast, the owner is not high compliance rate, the owner is difficult to set the price of a long association with the space.
Fu Xiaoyan said the dry bulk shipping market applications Forward Freight Agreements (FFA) more, but in China accounted for dry bulk trade point of view, Chinese companies do not derive much benefit. Because most trade and production enterprises are passive acceptance of freight costs, and finally the costs to downstream consumers. According to the British FIS shipping brokerage firm statistics, participate in FFA trading of Chinese companies accounted for less than 10%. Marketing and shipping enterprises need to derivative instruments based on the perspective of their trade to alleviate predicament Bureau.
In fact, as early as 2013, the Dalian Commodity Exchange (referred to as "DCE") began to expand research and development of shipping futures, over the years through the study of 18 global shipping market segments, overall market size, degree of standardization, market a variety of structural factors, such as supply and demand, ultimately determine the physical delivery basis, coastal ports in eastern China to the US West coast container capacity for the design direction of the target species, and species characteristics make arrangements for the contract design rules, in 2019 SFC approved project, has completed the design work contract, the listing reporting and related preparatory work is an orderly way.
DCE party secretary, chairman Ran China recently conducted a special investigation when container capacity market-related cases and container capacity futures product development and other issues, said that after many years of accumulated experience in the market research industry and in-depth, the ability to trade all contracts through high-quality rules designed to control market risks, grasp the rhythm of opening up, to achieve linkage of the current regulation to ensure stable and healthy futures container capacity, function into full play.
COSCO Shipping Container Transport Limited chairman and general manager Yang Zhijian said advance shipping futures product innovation, to recognize the rise of cross-border electricity supplier changes brought about by trade and shipping buying and selling patterns of change, identify industry pain points and solve practical problems.
Ran Hua said the container shipping capacity for futures industry chain, middle and lower reaches provide an open, transparent, continuous container capacity price signals to help industry chain enterprises to better stabilize price fluctuations, stable production and operation, transportation powers for the implementation of the Platform, shipping is important to achieve power.