China Industrials Shipping supply chain weekly: trade flows, freight and Hormuz updates (week 28)

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China Industrials Shipping supply chain weekly: trade flows, freight and Hormuz updates (week 28)

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EquitiesChina Industrials

Shipping supply chain weekly: trade flows, China

freight and Hormuz updates (week 28) 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

and ports. S1460525030003

zed.sheng@ubs.com

Uncertainties remains at Hormuz Strait +86-21-3866 8730

Transits in Hormuz Strait have eased back, with an average of 30 vessels transited per Cristian Nedelcu, CFA

day last week, down from 45 per day across the first week of July. Our Maritime Trade Analyst

Disruption Monitor (> Access Dataset) indicated a notable decrease in the oil tankers cristian.nedelcu@ubs.com

+44-20-7568 4375departing eastbound from Hormuz from July 8th. VLCC average earnings from Middle

East/West Africa to China strengthened last week with resurgence of VLCC activity in William Deng

the USG, with Middle East/US Gulf/West Africa-China VLCC TCE +65%/+0%/-14% vs. Economist

pre-conflict level. william-w.deng@ubs.com

+852-2971 6765

Container shipping volume and rates eased Xin Chen

AnalystContainer throughput at key ports in China decreased 15% WoW and 11% YoY last

S1460511050002

week under the impact of Typhoon. After hitting the intra-year high, main lane freight

xin.chen@ubs.com

rates softened last week: overall SCFI freight rates decreased by 4% WoW last week +86-21-3866 8864

(+84% YoY), with Shanghai-Europe -3% WoW and Transpacific -2-6% WoW; Port of LA