Since mid-November, the Houthi armed forces have begun to carry out attacks on "Israeli-related ships" in the Red Sea, and many container shipping companies have successively announced the suspension of their container ships from sailing in the Red Sea and nearby waters. On December 27, Nandu reporters learned from China International Marine Containers (Group) Co., Ltd. (abbreviation: CIMC (000039)) that the group believes that how the situation in the Red Sea develops will not affect the recovery trend of container manufacturing, but it may have an impact on the recovery trend of container manufacturing. The demand for containers brings short-term fluctuations.
A container ship sailing on the Red Sea route.
Nandu previously reported that since the outbreak of the new round of Palestinian-Israeli conflict, the Houthis have frequently launched missile and drone attacks on Israel on the grounds of "supporting Palestine" and have continuously attacked ships "associated with Israel" in the Red Sea. Tensions in the Red Sea waters mean that the risk of spillover from the Palestinian-Israeli conflict has intensified, and has affected international shipping. Recently, attacks on ships in the Red Sea, Bab el-Mandeb Strait and nearby waters have occurred frequently, and many container shipping companies have successively announced the suspension of navigation of their container ships in the Red Sea and nearby waters.
A person in charge of a Chinese international logistics company once told Nandu reporters that due to the current situation in the Red Sea, the Far East-Northern Europe route has been changed from passing through the Suez Canal to bypassing the Cape of Good Hope. The voyage will increase by about 10 days, which will have an impact on China's cargo transportation logistics and container prices. This will have a direct impact, as freight rates on the China-Europe route have been rising for several weeks. The person in charge said that the Panama Canal is currently restricted due to drought and there is a risk of war in the Red Sea. Trade in Asia, Europe and the Americas are all facing the problem of poor transportation, which has a greater impact on global trade.
As Maersk Group, the world's largest container shipping company, issued a statement saying that it was preparing to resume shipping operations in the Red Sea and the Gulf of Aden, on December 27, Nandu reporters learned from CIMC that since the third quarter of this year, container manufacturing has shown a gradual recovery trend. . CIMC Group stated that looking forward to 2024, the latest WTO forecast is that global merchandise trade volume will grow by 3.3% by 2024; at the same time, the normal physical replacement demand brought about by the increasing number of containers held year by year will be further released, and the container manufacturing industry is expected to Return to normalcy in 2024. Specifically, how the situation in the Red Sea develops will not affect the recovery trend, but may bring short-term fluctuations in container demand.
CIMC Group previously responded to questions related to the Red Sea situation and stated that in the short term, the situation in the Red Sea will cause delays and diversions in Red Sea routes, which will lead to longer sailing distances and longer transportation times. Theoretically, this incident is likely to increase the demand for container transportation. The company will actively pay attention to relevant developments and flexibly adjust market strategies.