The Impact On Foreign Trade Of The Continuous Decline in Ocean Freight Prices

It is too early to draw a conclusion on the impact of the sharp drop in ocean freight on foreign trade. On the surface, the shrinkage of the shipping market is the direct cause of the sharp drop in ocean freight, but the underlying cause is also the change in the external demand market. Compared with the explosive growth of the container shipping market last year, although its market growth rate decreased in the first half of this year, the overall volume of container shipping trade is still at a high level in the market. However, since the third quarter, the inflationary pressure in Europe, the United States and other countries has continued to increase, leading to a continuous decline in their market demand. In addition, a large number of previously stockpiled stocks have yet to be digested, many importers have had to reduce or even cancel their commodity orders, and the "order shortage" may further highlight in the future.