|
|
What's happening In Shipping - July 2023
Please see the below quick summary of snippets from around the market that you may find insightful.
-
JULY shipping space ex CHINA into EAST COAST Australia is pretty full, if not already booked.
This would indicate that the GRI advertised for the 1st AUG @ USD150 per TEU (20') may well stick for the first time in 2023.
Volume has not increased necessarily, more so space reduced with several blank sailings towards the back end of JULY driving up demand.
-
Drewry world trade index (tracks global shipping prices) has seen a slight increase in MID JULY. This is the first upward increase in some time after months of decreases from the record highs in 2022.
This Index considers USA and EU trade (along with others), which could indicate why the increase, as they are in peak summer importing season right now.
-
LONG BEACH... Remember during the pandemic how many ships were at anchor awaiting berthing and the impact this congestion had around the world? Well for the last 12 months, Long Beach has recorded less volume month on month... Until JUNE 2023.
June recorded an increase on volume compared to JUN 2022. Is that a sign the worst of the economy is behind in the USA??
-
On a local front, SYDNEY port recorded a decrease of roughly 15% for import containers in the month of JUNE 2023, compared to JUNE 2022... Interest rates impacting??
SYD had just over 100,000 TEU (import containers) for the month of JUNE. That is 5 super max 20,000 TEU SHIPS only... Put that in comparison, Long beach would get that in a day or two each week. Just goes to show the scale of economy down under.
-
Michael Outram... Who is he? He is the "BOSS" of Australian Border Force (Customs). Why do we bring up his name? He recently revealed that import and export trade (business) must consider 200 regulations, 145 trade systems and 29 government agencies in Australia to import or export.
Seem excessive?? Michael thinks so, he estimated that it costs the economy an additional $430m per year due to duplication and additional work. It's positive to hear that Customs is looking into this and are looking to reduce via a review to simplify the process and regulations.
For the record Australia came in 25th in the world in 2010 on the "TRADING ACROSS BORDER WORLD INDEX" and in 2020 we were sitting at 106th. Seems that Michael has his work cut out for him to get Australia trade back on track!
|
|
|
