According to the latest data released by the General Administration of Customs, from January to August 2021, the export value of China's auto parts products reached 316.58 billion yuan, increasing by 34.6% year-on-year. Compared with 31.22 billion yuan in the same period of 2019, it has increased by more than nine times.
Zhaofeng Electromechanical in Hangzhou, Zhejiang Province, is an auto parts manufacturer. The company's person in charge introduced that since the second half of 2020, export orders have seen a large-scale explosion. Currently, more than 40 production lines of the company are all operating at full capacity.
Kong Chenhuan, the general manager of a hub bearing company in Hangzhou, Zhejiang Province, also said that the current backlog of orders has been booked up to three months later, with an order growth rate exceeding 80%.
Kong Chenhuan believes that the sharp increase in order demand is due to two reasons: one is the recovery of previous orders, and the other is the relatively low overall inventory rate in overseas terminal markets.
According to the explanation, due to the shortage of wafers, global automotive production is declining. As a result, the demand for components that provide supporting services for vehicle manufacturers has decreased. However, the demand for new energy vehicles and the after-sales maintenance market remains strong.
Zheng Hao, deputy director of the Statistics Department of Shanghai Customs, introduced that in the first eight months of this year, the export value of auto parts from Shanghai ports reached 96.6 billion yuan, up 36.4% year-on-year. The main export destinations were the United States, the European Union, Japan and other countries and regions.
Although the export orders for auto parts have soared, enterprises are in a mixed mood, mainly due to prominent issues such as rising raw material prices.
In the workshop of Sanyuan Vehicle Purifier Company in Taizhou, Zhejiang Province, machines are roaring. Currently, the company has over 20,000 sets of orders on hand and produces more than 800 sets per day.
At the beginning of this year, due to the rising prices of precious metals such as palladium and rhodium, steel and other raw materials, as well as the continuous increase in freight costs, although orders were very abundant, production costs increased by at least 20%.
It is reported that the price of Buxiu Steel was 8,200 yuan per ton last year, but it has risen to 14,000 yuan per ton this year. Last year, the price of iron plates was 4,200 yuan per ton, but recently it has risen to 8,300 yuan. As an important element in the production of air purifiers, the price of the precious metal rhodium has also tripled. It was 2,000 yuan per gram last year and has reached 6,000 yuan per gram this year.
Following CMA CGM, Hapag-Lloyd said it would suspend the increase in spot freight rates, while Maersk preferred to sign long-term contracts
After CMA CGM announced last week that it would suspend further increases in spot freight rates, Hapag-Lloyd joined CMA CGM by setting a cap on spot freight rates for containerized cargo transportation.
Hapag-lloyd told Lloyd's Register in an interview, "We haven't raised freight rates further for several weeks."
Hapag-lloyd said, "We believe spot freight rates have peaked. We do not seek further increases in freight rates. We hope the market will gradually start to calm down."
Unlike CMA CGM's clear commitment to suspend freight rate hikes for the next five months, Hapag-Lloyd said the freight rate freeze would be "temporarily" in effect.
Spot freight rates account for a large proportion of containerized cargo. Driven by market forces, demand has soared significantly over the past year, pushing ocean freight rates to unprecedented levels.
Hapag-lloyd's CEO Rolf Habben Jansen seems to rule out any form of price control, saying that the market demand for cabin space is very huge.
If we try not to follow the market, we will get too many reservations, to the extent that our system crashes. But nowadays, there is very little space left for the transportation of additional goods, which has led to crazy freight rates.
On the other side, Maersk said it has signed long-term contracts with more customers.
The pressure in the container market, characterized by a shortage of containers and insufficient transportation capacity, has pushed spot prices to a new height.
Therefore, Maersk pointed out in a comment that compared with the past, it has signed more long-term contracts with customers.
We are committed to achieving business transformation and becoming a full-service container logistics integrator. That's why our focus is on creating long-term value for our customers. To achieve this goal, we are striving for a larger share of long-term contracts, which has currently increased to around 60% of our total orders
" Maersk said.
Note: this article reprinted in China logistics website (https://www.shippingazette.com/menu.asp?encode=gb)
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