International shipping prices hit a nine-year high

As an important macroeconomic barometer, international shipping prices have risen sharply since August this year. In early September, the Baltic Dry Bulk Index hit a new high in nearly nine years. What exactly happened to the shipping market? How has commodity trade been affected? Come and see the reporter in Ningbo Zhoushan Port conducted an investigation. At the ore terminal of Zhoushan Port in Ningbo, Wang Jingyu is in close consultation with his staff, and the time for his ship to dock at the port will be delayed.

Minmetals Shipping Agent (Ningbo) Shipping Business Manager Wang Jingyu: We actually checked this situation with the wharf and the maritime side today, which is quite worrying. I'm afraid that if I can't depend on tomorrow, it's possible to delay for two or three days.

Because he was afraid of affecting the subsequent shipping schedule, Wang Jingyu was very worried. He even told the crew to prepare the escalator before landing so that they could unload the cargo 20 minutes earlier. Wang Jingyu told reporters that the number of ships arriving in Hong Kong has increased significantly recently. Domestic demand for more goods, downstream buyers are eager to grab goods, upstream sellers rush to deliver goods, which also caused the port congestion. Since the end of July, whether in a port like Ningbo or a river port in the Yangtze River, his boats have been in a queue to enter.

Minmetals Shipping Agency (Ningbo) Shipping Business Manager Wang Jingyu: In May and June, we wait an average of one to two days, in July and August, at least two or three days or even up. Obviously, we can see that the ship's concentration is relatively high, all of us are in such a berth state, cargo owners must be relatively anxious. Over the past 10 years, Ningbo Zhoushan Port has been the world's largest port in throughput, but in the last month, several terminals have been operating at high levels. In September, in addition to stepping up unloading, it is also crucial to organize river ships to transport goods in time, because the port will soon be unable to let go.

Ningbo Zhoushan Port Ore Company's yard squad leader Xin Chaohui: Before, my lowest stockpile may only be 2.6 million tons, but now for various reasons, the stockpile has increased to about 312 million tons. High stockpile operation is not conducive to the safety of the yard, so we are trying to find ways to transport, including trains. Statistics show that, even under the influence of typhoon, the iron ore throughput of Ningbo Port still exceeded 7.76 million tons in August 2019, up 11.04% annually. In the first eight months of this year, the cargo throughput of ports above the national scale increased by 7.9% year on year, and the growth rate was further expanded. The increase of traffic also caused partial tension in capacity and marked warming of global shipping prices. The Baltic Dry Bulk Index rose from 1812 in early August to 2518 on September 4, up 38.9%.