The year-on-year drop exceeded 50%, and the long-term agreement freight rate dropped sharply!

NO.1 Long-term agreement freight rate fell by more than 50% year-on-year

According to the long-term agreement freight index (XSI) of Xeneta, an industry analysis organization, the XSI fell to 183.6 points in July, a decrease of 9.5% from June. The same period last year was 435.2 points, a sharp drop of 57.8% in one year, which means that the freight paid by shippers in the long-term association market is less than half of what it was a year ago. In addition, 183.6 points are also lower than the 200 points in the same period in 2021, becoming the lowest value in two years.

According to Xeneta analysis, although the cargo volume in July increased compared with the previous months, the global container transportation demand still fell sharply year-on-year. Those liner companies who thought that they had entered the peak shipping season and their cargo volumes would increase may be increasingly disappointed.

On the other hand, even with higher cargo volumes, the supply-demand imbalance will continue to intensify due to the current record level of new vessel deliveries.

NO.2 In the first half of the year, my country's port cargo throughput increased by 8% year-on-year

According to data released by the Ministry of Transport, in the first half of the year, my country's port cargo throughput reached 8.19 billion tons, an increase of 8% year-on-year, of which domestic and foreign trade throughput increased by 7.6% and 8.9% year-on-year respectively. The container throughput maintained growth, completing 150 million TEUs, a year-on-year increase of 4.8%.

In addition, my country's freight volume also continued to grow in the first half of the year, completing commercial freight volume of 25.93 billion tons, a year-on-year increase of 6.8%. Among them, railways, highways, waterways, and civil aviation completed freight volumes of 2.5 billion tons, 19.01 billion tons, 4.42 billion tons and 3.28 million tons, a year-on-year increase of 0.6%, 7.5%, 7.7% and 6.4% respectively.

NO.3 Southeast Asia is growing steadily in the global supply chain system

QIMA released the industry procurement report for the third quarter of 2023. Supply chain visibility has become the primary factor for buyers to choose suppliers. China still plays a pivotal role in the global supply chain, and buyers' purchases from China maintained an upward trend throughout the first half of the year.

In the second quarter of 2023, the global demand for inspection and audit in China increased by 3.5% year-on-year, and the inspection and audit demand of Latin American and Asian companies increased by 13% and 27% year-on-year, respectively. The combined share of the Southeast Asian sourcing market in the US and EU sourcing mix has been growing steadily.

The prospect of procurement in Southeast Asia in 2023 is bright, but the growth rate varies from country to country. In the second quarter of 2023, the global demand for Vietnam will increase by 6% year-on-year, and this indicator will be 25%, 26% and 27% in Thailand, Cambodia and Indonesia respectively.

NO.4 CMA CGM announces the "transcript" of revenue for the first half of the year

In the first half of 2023, CMA CGM achieved a total operating income of US.011 billion, a year-on-year decrease of 33.7%; EBITDA reached US.028 billion, a year-on-year decrease of 60.6%; the EBITDA profit margin decreased by 26.4 percentage points year-on-year to 24.1%; The 10.6 billion US dollars decreased to 3.34 billion US dollars, a year-on-year decrease of 68.6%.

From the perspective of the shipping sector, in the second quarter of 2023, total operating income decreased by 47.9% year-on-year to US.35 billion, and a quarter-on-quarter decrease of 5.8%; EBITDA was US.187 billion, a year-on-year decrease of 76.0%, and a quarter-on-quarter decrease of 28.2%; the EBITDA profit margin decreased by 30.7% year-on-year percentage points to 26.2%. Freight transactions on the North-South route remained high, but the Trans-Pacific and Asia-Europe routes were affected by slowing household consumption and retailers destocking.

For the shipping industry, in the second quarter of 2023, CMA CGM will complete 56,000 TEU containers, which is relatively stable, with a year-on-year decrease of 0.4% and a quarter-on-quarter increase of 11.6%. This reflects the seasonality of the business, but also a pick-up in demand. The average shipping cost per box was US,491, a year-on-year decrease of 47.7% and a month-on-month decrease of 15.6%.

NO.5 The Philippines launches a full set of cross-border trade facilitation services

Recently, Malaysia Digital Services Corporation (MYEG) signed a cooperation agreement with the Philippine Bureau of Customs (BOC) and Cargo Data Exchange Center Corporation (CDEC) to deploy blockchain-based customs clearance and processing services in the trade zone between the Philippines and China ( Smart customs clearance service), the project is called Ztrade, which is China's first Web3 artificial intelligence link, and the solution will run on MYEG's innovative Zetrix Layer-1 blockchain platform.

This pioneering move by MYEG follows in March the group signed a partnership with Orient Logistics Co., Ltd., a wholly-owned arm of the General Administration of Customs of the People's Republic of China (GACC), to jointly offer a full suite of cross-border services on the Zetrix blockchain platform. Trade facilitation services.