First Read: China Industrials "Shipping supply chain weekly: trade flows..."

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First Read: China Industrials "Shipping supply chain weekly: trade flows..."

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First Read

EquitiesChina Industrials

Shipping supply chain weekly: trade flows, China

freight and Hormuz updates (week 21) Industrial

Robin Xu

Analyst

bin.xu@ubs.com

Key highlights from high-frequency data +86-21-3866 8872

We compile weekly data from UBS Evidence Lab, the Ministry of Transport and other Zed Sheng

third-party data providers to track the latest trade flows across shipping, shipbuilding, Analyst

ports, international freight flights and land transportation. S1460525030003

zed.sheng@ubs.com

BDI & earnings of bulker and new build price remained strong +86-21-3866 8730

The bulker market remained solid last week at 2 years high level, with average earnings Cristian Nedelcu, CFA

of capesize bulker up 1% WoW. The shipbuilding new build price index remained solid Analyst

and picked up 0.2% WoW last week, achieving WoW growth in 8 weeks and a total cristian.nedelcu@ubs.com

+44-20-7568 4375gain of 1.6%. We maintain our positive outlook on shipbuilding demand, as we have

seen new build demand for bulker and VLGC pick up after strong new build demand for William Deng

VLCC squeezed the remaining slots in the shipyard. Economist

william-w.deng@ubs.com

+852-2971 6765Stable port container throughput and container freight rates

Container throughput at key ports in China decreased by -3% WoW and turn into - Xin Chen

Analyst3%YoY last week, with MTD throughput growth of 2% YoY. Port of Los Angeles import

S1460511050002

indicated a notable YoY volume increase last week and estimated a stable growth new

xin.chen@ubs.com

two weeks. Entering into peak season, overall SCFI freight rates increased by 4% WoW +86-21-3866 8864