After the ship left Baltimore on March 13, the Ever Forward ran aground. For the common interests of cargo owners and the safety of all involved, Evergreen Shipping has been making every effort to refloat the stranded ship. Evergreen declared general average on April 17, given the increased cost of continued attempts to re-float the vessel. There have been no reports of injuries or contamination.
Ever Forward, a 12,000 TEU container ship owned by Evergreen Shipping (Hong Kong) Co., Ltd., a subsidiary of Evergreen Shipping Group, ran aground in Chesapeake Bay after leaving Baltimore on the evening of March 13. No casualties have been reported to the ship or its cargo. , and there are no signs of fuel leaks or contamination.
Dredgers have been digging around the stranded container ship, and groups of tugboats made two unsuccessful attempts to pull the 1,095-foot vessel out of the silt last week.
Under new plans announced by the Coast Guard, cranes will be used to remove some of the containers from the "long haul" to reduce their weight before the next rescue effort. The lifting operation will start as soon as a crane with the right lifting height is installed. Meanwhile, the dredger will continue to dig to a depth of 43 feet around the vessel. During these operations, the fairway will remain one-way traffic and a 500-yard safety zone will remain around the vessel.
Salvage experts determined that in their current state of loading, they would not be able to overcome the gravity of the "long-range wheel". The new program offers the best chance of successfully relaunching the long haul. ' said the Coast Guard.
Containers will be unloaded from the port and starboard sides of the 12,000TEU container ship and placed on a barge, which will transport the containers to the Seagrit Marine Terminal in the Port of Baltimore and unload them. The ship is currently carrying 4,964 general dry cargo containers, according to the Coast Guard. The Coast Guard said that for safety reasons, lifting operations can only be carried out during the day.
Once the required number of containers has been removed, another re-float attempt will be made using tugboats and pulling barges.
According to the Baltimore Sun, the plan calls for the removal of several hundred of the 4,964 containers on the long-haul ship, with most of the cargo remaining on board. Since the shipowner Evergreen Shipping has declared general average, the shipper needs to provide the necessary guarantees and documents to the general average adjustment company before the container cargo shipped to the Seagirt terminal can be recovered.
Chinese factories now account for more than 96% of the world's dry container and 100% of the reefer container market, and Vietnam is joining the fray and is providing the world with a new container export destination.
Vietnam's Hoa Phat Group, Southeast Asia's largest steelmaker, is making a foray into container manufacturing.
It sees potential synergies with its core steel production business.
Hoa Phat started construction of its plant Hoa Phat Container Manufacturing in Vung Tau province in December and is expected to be operational by the end of this year with an annual production capacity of 500,000 TEUs, all using steel produced in-house.
Two South Korean companies - Seojin Systems and Ace Engineering - have also built container factories in northern Vietnam, which are expected to be operational later this year.
Hefa Group: Plans to supply containers to the market in the fourth quarter
Nguyen Manh Tuan, vice chairman of Hoa Phat Group, said: "Shipping containers are part of the Hoa Phat company ecosystem, and Hoa Phat started building the container manufacturing plant amid a global shortage of shipping containers."
Hefa Group planned to start construction of the factory in June 2021, but due to the impact of the fourth wave of the new crown epidemic, the project was officially launched in November 2021, five months later than planned.
But after 3 months of construction, 5 workshops, with a total construction area of nearly 7 hectares, began to erect columns. On February 22, 2022, the construction of the first truss of workshop 5 was completed.
Vu Duc Sinh, head of the container manufacturing division of Hoa Fatt Group, said the first machines and equipment at the plant are expected to arrive this month and construction will be fully completed by April. The construction of the factory is accelerating. There are 3-5 contractors on the construction site, who distribute the projects equally and strive to complete the capital construction within 6 months from the date of commencement of construction. We want to build factories as soon as possible to take advantage of the shortage.
In Vietnam, Hoa Phat was the first container manufacturer. Tuan explained that the high price of weathering hot rolled coil steel used to make containers would cost the company if imported, and we at Hoa Phat can produce this steel.
The Hefa Group's container factory will be commissioned in the third quarter of 2022, and products will be brought to market from the fourth quarter of this year. The plant is expected to have a capacity of 200,000 TEU per year by the end of 2023.
Foreign exchange risk refers to the possible loss of international financial transactions due to currency fluctuations. Also known as currency risk, foreign exchange risk and exchange rate risk, it describes the likelihood that the value of an investment may decline due to changes in the relative value of the currencies involved. Investors may be exposed to jurisdictional risk in the form of foreign exchange risk.
Where does foreign exchange risk come from?
Foreign exchange risk arises when a company receives payments in one currency but pays fees in another. From the importer's point of view, the risk is that the foreign currency will appreciate because it means they will have to pay more for the imported goods. Instead, for exporters, the risk is that the foreign currency will depreciate against the Canadian dollar. If the exporter's foreign currency depreciates after selling to an international customer, the exporter's Canadian dollar will end up being lower than expected.
Companies are also exposed to foreign exchange risk when they create price lists at the start of the season, long before they invoice foreign customers, or when infrastructure projects require payment after each step of the project is completed. Once a formal agreement is reached with a supplier or customer, the company is at risk.
There is no one-size-fits-all strategy for reducing foreign exchange risk. A company's exposure is affected by many factors, including the volume of imports and exports, whether payment is made at the time of sale or at a later date, the currencies involved, and the countries where customers and suppliers are located.
All currencies fluctuate in value, and the Canadian dollar is no exception. Decisions about major interest rates by Canadian banks, energy prices, geopolitical conflicts, foreign acquisitions of Canadian businesses and many other factors can affect the value of our currency. Predicting currency movements is very difficult, and analysts' forecasts are not always reliable. That's why it's so important for companies to have policies in place to minimize this risk and protect their profitability.
Characteristics of foreign currency export sales
Applicability
Recommended for (a) highly competitive markets and (b) when foreign buyers insist on buying in local currency
Risk
Exporters are at risk of exchange rate losses unless foreign exchange risk management techniques are used
Advantage
Enhanced export sales terms to help exporters remain competitive
Reduce the risk of non-payment due to local currency devaluation
Shortcoming
The cost of using certain foreign exchange risk management techniques Foreign Exchange Risk Management
burden
Foreign exchange risk is divided into three categories:
Transaction Risk: This is the risk a company faces when purchasing products from a company located in another country. Product prices will be in the selling company's currency. If the selling firm's currency appreciates relative to the buying firm's currency, the firm making the purchase will have to make a larger payment in its base currency to reach the contract price.
Conversion risk: A parent company with a subsidiary in another country may face losses when the subsidiary's financial statements (which will be denominated in that country's currency) must be converted back to the parent's currency.
Economic Risk: Also known as forecast risk, refers to the continued exposure of a company's market value to the risk of inevitable currency fluctuations.
Companies exposed to foreign exchange risk can implement hedging strategies to reduce this risk. This often involves forward contracts, options and other exotic financial products that, if done right, can protect companies from unwanted foreign exchange fluctuations.
Currency Exchange Tips
Please be aware of any issues with currency exchange. Not all currencies can be freely or quickly converted into dollars. Fortunately, the U.S. dollar is widely accepted as an international trade currency, and U.S. companies can often ensure payments are made in U.S. dollars.
If the buyer requires payment in a foreign currency, you should consult an international banker before negotiating a sales contract. Banks can advise on any foreign exchange risk associated with a particular currency. The most direct way to hedge foreign exchange risk is forward contracts, which enable exporters to sell a certain amount of foreign currency at a pre-agreed exchange rate, with a delivery date ranging from 3 days to 1 year in the future.
If you can do business entirely in U.S. dollars, you may be able to avoid many of the difficulties and problems associated with currency exchange.
Geopolitical risk, also known as political risk, occurs when a country's government unexpectedly changes its policies, which now negatively affects foreign companies. These policy changes may include things like trade barriers that restrict or prevent international trade.
Some governments will demand additional funds or tariffs in exchange for the right to export items into their home countries. Tariffs and quotas are used to protect domestic producers from foreign competition. It can also have a huge impact on an organization's profits, as it either reduces revenue taxed on exports or limits the amount of revenue that can be earned.
Legal Risk
Laws and regulations vary around the world. What is common practice in one country may not be so in another. As a result, exporting companies may face legal issues related to many areas of business, including customs, contracts, currency, and liability and intellectual property rights related to the products they sell.
One of the best ways to mitigate export legal risk is to engage legal counsel located in a particular country jurisdiction or with proven expertise in dealing with local laws. The last thing a company wants to do is get into a protracted legal battle in an unfamiliar country with local legal issues. Relying on trusted legal counsel can largely avoid or even anticipate and proactively handle potential legal issues.
Economic risk
In markets with less stable economies, consider the possibility of economic changes that could affect your export business.
High inflation
High inflation could mean customers can't pay their invoices on time, or potential customers will be interested in extending their credit terms. The worst-case scenario of high inflation could lead to hyperinflation, which in turn could lead to economic collapse. Sold only on safe terms to avoid default.
Exchange rate fluctuations
The exchange rate is the level at which a country's currency can be exchanged for another. It fluctuates continuously throughout the day, with closing prices for buying and selling published at the end of the day. You can eliminate any exchange rate risk by always selling in GBP.
Your customers may insist on paying in foreign currency. Make sure this is a freely convertible major currency. When you invoice in another currency, you can limit your exposure by fixing the exchange rate using forward foreign exchange contracts. This is a process where you basically determine the current exchange rate to use at a future date. You can discuss this with your bank, or read more about export invoice currency.
Foreign exchange control
The government can impose foreign exchange controls on the buying and selling of local currencies. Today, the countries with foreign exchange controls are mostly emerging markets.
The impact on UK exporters could be delayed payments as the country's central bank won't release foreign currency. Often, these controls lead to a black market in currencies, with two exchange rates: an official market rate and an unofficial market rate. The difference from the official exchange rate is known as the black market premium.
A distinction should be made between situations where the country's central bank is only causing delays, and areas where there are local problems leading to export invoicing and widespread smuggling. You should not engage in any conduct that violates the laws of this market or violates bribery, as the penalties can be severe.
Shipping and Logistics Risk
Making an export sale is just the beginning of the process. Goods sold now need to be delivered to customers in a timely and safe manner. This is where exporters may encounter a range of shipping and logistics risks, which may vary depending on the goods being shipped and shipping requirements. Some items require refrigeration, must not be exposed to excessive heat or cold, or have a shelf life. Other items are very fragile and require careful handling or must be assembled before delivery to the customer. All shipments must be tracked. If something goes wrong, the buyer may try to negotiate a price reduction or reject the shipment altogether.
Reducing transport and logistics risks often involves quality control and careful tracking procedures throughout the process. Specialized transportation and logistics companies can also bring expertise to the job, and some insurance companies provide coverage for damages caused by delays and problems in transit.
Language and cultural risk
Doing business with importers and customers in another country requires a certain level of trust. Differences in language, culture, religion and many other aspects of life require careful handling. For example, when exporters and their customers speak different languages, important details and nuances can be lost in translation.
Different cultural practices affect everything from "normal business hours" to ethical behavior to whether customers are willing to buy a product. In many areas, well-meaning exporters can unknowingly create tensions or offend customers, government officials and others important to timely product shipments and other aspects of the business.
The best way to prevent such problems is to have employees who speak the local language or have experience living in a particular culture or region. Additionally, exporters can focus on building local business relationships in the countries where their products are imported to help resolve issues and increase the exporter’s local connections and presence.
Quality risk
Customers may complain about the quality of these products once the goods are shipped. This may be a genuine objection based on the buyer's specific requirements and expectations. It could also be a way for buyers to gain leverage and negotiate discounts on shipped products after the fact.
One way to deal with quality risk is to hire an independent third party to inspect the shipment before it is shipped. If this is not possible, the exporter can send samples to the importer or end customer so that they can inspect the product themselves and determine if the quality is acceptable before any order is shipped.
International business terms (incoterms) were designed by the International Chamber of Commerce (ICC) to simplify international trade by creating a common standard language, a globally recognized list of terms related to the international transport and transport of goods.
Importers and exporters need to be proficient and proficient in many terms. Some terms are more common than others, such as Free On Board (FOB), Free Carrier (FCA) and Ex Works (EXW). FOB, while common, is largely misunderstood.
Although their language is largely drafted in legal language, it is the responsibility of all parties involved in a shipment to ensure that they understand all Incoterms, otherwise a simple shipment can turn into a costly accident .
Incoterms are important for several reasons. If you find yourself wondering what FOB means in shipping, be sure to take the time to understand FOB shipping
Free shipping on board
The FOB point of dispatch, also known as the FOB origin, is when title and responsibility for the goods pass from the seller to the buyer when the goods are placed on the delivery vehicle.
Since the FOB shipping point transfers title to the shipment of the goods when they are placed at the shipping point, legal title to those goods passes to the buyer. Therefore, the seller is not responsible for the goods during delivery. FOB Shipping Point is a further limitation or condition of FOB as liability changes hands at the seller's shipping terminal.
For example, suppose that ABC Company in the United States purchases electronic equipment from its supplier in China, and the company has a FOB point-of-ship agreement. If the nominated carrier damages the package during delivery, ABC Company will be solely responsible and cannot claim compensation from the supplier for the loss or damage. Suppliers are solely responsible for bringing electronic equipment to the carrier.
Free destinations on board
Conversely, for FOB destinations, title transfers at the buyer's loading dock, PO box, or office building. Title to the goods passes from the seller to the buyer once the goods have been delivered to the place designated by the buyer. Therefore, the seller legally owns the goods and is responsible for the goods in transit.
Types of free destinations on board
FOB freight prepaid and allows the named seller to be obligated to pay the freight and have the goods in transit. The seller bears the risk of loss of or damage to the goods in transit. Title to the goods passes to the buyer at the buyer's place of business.
FOB shipping prepaid and adding the specified seller is obligated to pay shipping. However, the seller charges the buyer for shipping. The seller bears the risk of loss of or damage to the goods in transit because the seller owns the goods in transit. Title to the goods transfers to the buyer's place of business.
FOB freight collect specifies that the buyer must pay the freight upon receipt of the goods. However, the seller bears the risks associated with shipping the goods because the seller still owns the goods during the shipping process.
FOB freight collect specifies that the buyer must pay the freight. However, the buyer deducts the fee from the seller's invoice. The seller is responsible for the goods because the seller still owns the goods during shipping.
Main difference
Another key difference between the two terms is how they are calculated. Since the buyer is liable after the goods are shipped, the company can record an increase in its inventory at this time. Likewise, the seller records the sale at the same time. If the goods are damaged or lost in transit, the buyer can file a claim as the company holds title during delivery.
The accounting rules for FOB destinations have changed. In this case, the seller completes the sale on its records once the goods arrive at the receiving dock. That's when the buyer records the increase in their inventory.
There are also differences in the division of costs. For the FOB shipping point option, the seller bears the shipping costs and charges until the goods arrive at the port of origin.
Once the goods are loaded on the ship, the buyer is responsible for all costs associated with shipping, as well as customs, taxes and other charges. For FOB destinations, the seller bears all costs and expenses until the goods arrive at the destination. Once in port, all costs - including duties, taxes and other charges - are borne by the buyer.
According to Alphaliner, some ocean carriers are turning to buying ships to increase capacity, rather than chartering them, reducing capacity in the containership leasing market by 1.6 million TEU.
In addition, there are concerns in shipbroker circles that this reduction in open capacity will weaken the industry's ability to cope with the normal seasonal peak and low seasons of liner trade.
According to shipbrokers, the loss of capacity controlled by NOOs (non-operating shipowners) began in August 2020, when shipping lines, flush with cash due to soaring freight rates, began to add capacity to their own fleets.
In just 18 months, more than 500 container ships have been sold to liner operators through the secondary market, a massive fleet exodus rooted in high demand for freight post-COVID-19, Alphaliner said.
"The huge demand for container ships has caused container ship rents to soar to levels never seen before in the history of container shipping, almost overnight."
"MSC has been the main buyer so far, buying 169 second-hand container ships with a total capacity of 636,900TEU," Alphaliner said.
CMA CGM was the second most active shipping company in the container ship market, purchasing 62 vessels with a total capacity of 207,000TEU; Maersk ranked third with 27 vessels purchased with a total capacity of 141,600TEU; followed by Wanhai with 23 vessels ship with a total capacity of 139,700TEU.
However, some shipping companies have decided to take advantage of the freight rate gained on newbuildings to increase dividends to shareholders, or to seize opportunities in the charter market for longer-term fixed charters.
According to Alphaliner data, in the past 20 months, non-operating shipowners have ordered 175 ships with a total capacity of 710,321TEU, more than half of which have signed long-term charter contracts with shipping companies.
“The low number of newbuildings relative to the loss of capacity suggests that non-operating owners’ fleets need to order more 1,000-9,000 TEU-sized container ships,” the shipbroker said.
But he added that several factors were preventing owners from ordering new ships, including soaring costs, longer lead times, and uncertainty over environmental regulations and fuel options.
Meanwhile, sources at shipbrokers said they were concerned about the current lack of open container ship capacity in the market, as well as the lack of spare container ships in the future.
"At the moment, the outlook is not very good," said one broker. "However, we think that when the situation returns to some form of normalcy, shipping companies may consider moving some of the excess smaller ships they have purchased. Rent out, that will give us something to sell," he said.
A bonded warehouse is a place used to store and process goods imported into new markets. Goods stored in bonded warehouses are not subject to customs duties (a type of tax). Any applicable customs duties shall be paid when the goods are transported to the next destination. Bonded warehouses can be owned by governments or private companies, helping to improve inventory and cash flow efficiency.
Using a bonded warehouse means that goods can be moved closer to their final destination, and payment of duties can be deferred until the product is moved.
The system provides significant benefits for commercial transactions across different jurisdictions. For organizations importing and exporting goods, bonded warehouses can be used to eliminate the need to pay customs duties, further increasing efficiency.
Why use a bonded warehouse?
Bonded warehouses can be an ideal option for importers and exporters of certain products for a number of reasons. These include:
Deferred payments for such products mean that no tax is due until the item is sold, which can greatly improve a business's cash flow. In many cases, this can be between 25% and 33% of the upfront cost of imported goods.
If the goods are set for export, there is no duty to be paid in the UK, but in the destination country. This means double spending will be avoided, resulting in further savings.
Goods can be imported and stored in bonded warehouses ahead of peak season, which means they can fulfill orders without delay.
Many times, bonded warehouses have specialized facilities, such as deep freezing vats for storing wine or spirits.
Entry and exit customs documents are usually provided by bonded warehouse facilities.
If you're not sure whether bonded storage is right for your business, here are three reasons why you should consider it.
1) Improve cash flow
Delaying payment of tariffs before purchasing goods can have a positive effect on cash flow. By storing your goods in a bonded warehouse, you only pay import duties when the goods enter the UK market, so if you have any difficulties moving your goods, you don't have to pay taxes in advance. You can't guarantee the sale will pay for itself. In bonded storage, all shipments are classified as suspended duty, which avoids prepayment of duty on products that may be in stock for several months.
2) If you export the goods, you do not need to pay import tax
If you're importing to exporting to a non-EU country, using a bonded warehouse is a breeze. Storing your goods in a bonded warehouse means you don't have to pay any import duties on exported products, saving you time and money. This means businesses can avoid paying tariffs twice, often saving around 25-30%.
It's also worth noting that if your goods need to be destroyed without selling, you won't have to pay import duty on them.
3) Port-centric logistics
Most bonded warehouses are located at or very close to ports (for example, John Good has a bonded warehouse in the Port of Felixstowe), which means you can store your goods at ports of entry and distribute them when needed. This lowers costs across the supply chain due to shorter lead times, lower potential for damage, significant savings in transportation costs and lower carbon emissions.
A customs warehouse is a warehouse where goods are stored under customs supervision and security. They are stored in designated places and are not subject to import duties and taxes until they are designated a final regime.
The type of entry into the customs warehouse mainly depends on the final destination of the goods and the commercial needs of the importer
Types of customs warehouses
There are basically five types of customs bonded warehouses:
Private warehouse
This type of warehouse is owned and operated by the company in which its imported or manufactured goods are stored. Goods from the port are received here and then distributed, for example, to various stores in the retail chain.
Public warehouse
Here, everyone can store their goods for import, export, manufacturing and distribution. Businesses use these facilities to address their short-term distribution needs. When there is no more space in the retailer's warehouse, excess goods can be stored in public warehouses.
Automated warehouse
Many warehouses have been modernized thanks to advances in computer and robotics. They use the latest technology to operate faster and more efficiently. The level of mechanization can range from small conveyors that move goods from one area to another to fully automated warehouses. Automation reduces labor and operating costs. It also simplifies functionality, making warehouses run faster, smoother, and generally have fewer bugs.
Temperature controlled warehouse
Many products require special handling; these include products such as computer equipment, sensitive electronic parts, frozen foods, produce, and flowers. To keep these shipments in ideal condition, make sure your warehouse offers air-conditioned and humidity-controlled space within your specifications.
Distribution center
This type of warehouse helps distribution companies receive products from various suppliers and then ship them to their customers. The point here is not storage, but reorganization and movement. Goods entering a distribution center can be broken down, aggregated or reprocessed, ready to be shipped to a store or customer.
Advantages of customs warehouse
As a major benefit, we highlight the advantage of being able to store goods without paying import duties and taxes until a final regime is specified for their transport.
Also comment on the improvement in the quality of customer service as it makes it easier for the company to get inventory and you will enjoy greater lead time efficiency.
On the other hand, another advantage to consider is cost savings for the company.
Configuration files and operations of customs warehouse:
Custodian: is the person in charge who is authorized to manage deposits.
Depositor: A person who is bound by a statement incorporated into the system, or who has been assigned the rights and obligations of the previous system.
Representative: Represents any of the above (the depositor or depositor) and provides statements related to the deposit.
Customs Control: Customs control of the warehouse in question depends on it.
Inventory accounting: A set of records for operations on stored goods: entry, exit...
Transfer between warehouses: The transfer between two commodity warehouses related to the system.
Declaration/Information: A communication from the depositor, custodian or representative, where appropriate, to the relevant customs office.
Bonded supervision place is one of the important forms of customs bonded system. There are several common modes of bonded warehouse, export supervision warehouse, bonded factory and bonded logistics center. With so many similar concepts, can you tell them apart? Today, TJ chinafreight will introduce these concepts and related tax refund policies to you.
Bonded warehouse
A bonded warehouse is a place used to store and process goods imported into new markets. Goods stored in bonded warehouses are not subject to customs duties (a type of tax). Any applicable customs duties shall be paid when the goods are transported to the next destination. Bonded warehouses can be owned by governments or private companies, helping to improve inventory and cash flow efficiency. Using a bonded warehouse means that goods can be moved closer to their final destination, and payment of duties can be deferred until the product is moved. The system provides significant benefits for commercial transactions across different jurisdictions. For organizations importing and exporting goods, bonded warehouses can be used to eliminate the need to pay customs duties, further increasing efficiency. The purpose and structure of a bonded warehouse varies from country to country.
Bonded Factory
A bonded factory is a factory or enterprise that has been approved by the customs and specialized in processing and manufacturing re-exported products with bonded imported materials. The materials and parts imported by the bonded factories for the production of export products are customs bonded goods, and the customs will fully bond them. After the processed and manufactured finished products are exported, the imported materials and parts will be exempted from import duties, import value-added tax and consumption tax according to the actual consumption.
Export supervision warehouse
The export supervision warehouse refers to the special customs supervision warehouse that stores goods that have gone through customs export formalities, carries out bonded logistics and distribution, and provides marketable value-added services. Including the export distribution warehouse (storing the actual exit of the export) and the internal transfer warehouse (storing the export and internal transfer).
Bonded warehouse refers to a warehouse dedicated to storing bonded goods and other goods that have not gone through customs formalities. Including public bonded warehouses, self-use bonded warehouses and special bonded warehouses (such as liquid dangerous goods bonded warehouses, material bonded warehouses, agency sales bonded warehouses, etc.).
Inbound and outbound cargo management between the logistics center and overseas. For goods entering and leaving between the logistics center and overseas, the customs in charge of the logistics center shall implement record entry and exit management. Goods entering the logistics center from abroad upon approval by the customs shall be bonded, office supplies, transportation, transportation tools, consumer goods, etc. for self-use imported from abroad, as well as imported machinery, loading and unloading equipment, management Equipment, etc., go through relevant procedures in accordance with the relevant regulations and tax policies of imported goods. When the goods stored in the bonded logistics center leave the logistics center and are finally exported to overseas, the customs shall implement the record management.
Management of incoming and outgoing goods between the logistics center and areas outside the domestic bonded supervision area. The goods entering the logistics center are deemed to be imported, and the import declaration procedures shall be handled according to the actual trade mode and actual status of the goods; the goods entering the logistics center from the territory are deemed to be exported, and the domestic consignor shall go through the export declaration procedures, and can enjoy the refund of export goods (exemption). tax policy.
The marine sector has grown by leaps and bounds over the past few decades, and ports and port facilities are needed to meet these growing demands.
This is why each country's shipping authority is focused on ensuring that its shipping ports are adequate for the needs of industry operators and drivers.
However, even as each country focuses on improving its port infrastructure, there are some global leaders with seaports - bigger and busier than all others.
Interestingly, the busiest port facilities are located in Asia due to the continent's geographic location on important maritime trade routes linking ports in Europe and the Middle East.
Details of the 10 busiest ports in the world are listed below, each with their own uniqueness.
NO.1 Ningbo Zhoushan Port
port of ningbo zhoushan, China
Ningbo Zhoushan Port is the port of Ningbo City and Zhoushan City in Zhejiang Province, China. It is located in the middle of the coastline of mainland China and the south wing of the "Yangtze River Economic Belt". It is an important iron ore transfer base, crude oil transfer base, liquid chemical storage and transportation base in China and an important coal and grain storage and transportation base in East China.
NO.2 Shanghai Port
Yang shan harbor of shanghai, China
Shanghai Port is a port in Shanghai, China. It is located in the middle of the coastline of mainland China and at the mouth of the Yangtze River. It connects the north and south coasts of China and the world's oceans, and then runs through the Yangtze River Basin, Jiangsu, Zhejiang, Anhui, and Taihu Lake Basins. Shanghai Port has established container cargo trade with more than 500 ports in 214 countries and regions around the world, and has more than 80 international routes.
In 2020, the port's annual cargo throughput exceeded 43.5 million TEUs, making it the busiest container facility in the world.
It mainly handles bulk cargo transportation of coal, metal ores, petroleum and its derivatives, steel, machinery and construction equipment.
The port consists of 125 terminals and 19 terminal facilities capable of accommodating the world's largest ships and carriers. In addition to the 5 main port areas, the port also has a cruise ship terminal with an annual throughput of more than 1 million passengers. More than a quarter of China's trade is handled at the port of Shanghai.
NO.3 Tangshan Port
Tangshan Port is located on the southeast coast of Tangshan City, Hebei Province. It is an important regional port along the coast of my country and an important part of the specialized transportation system for bulk materials such as energy and raw materials. Tangshan Port is adjacent to the Beijing-Tianjin-Hebei urban agglomeration. Caofeidian is 400 nautical miles from Incheon, South Korea, 680 nautical miles from Nagasaki, Japan, and 935 nautical miles from Kobe. The shipping routes to ore exporting countries such as Australia, Brazil, Peru, South Africa, and India are also very smooth.
In the past ten years, the planned coastline of Tangshan Port has increased from 32.5 kilometers to 65.5 kilometers, the planned dock coastline has increased from 90.1 kilometers to 190.3 kilometers, and the number of berths that can be planned and arranged has increased from 344 to 602, forming the "one port, three" in the whole port. District” and the planning and layout of dislocation development.
NO.4 Port of Qingdao
Like many famous seaports in China, Qingdao Port has a long history - since 1892, it has connected the Bohai Rim and Yangtze River Delta regions with the rest of the world. Qingdao offers direct flights to more than 180 countries and 700 ports.
Qingdao Port includes Qingdao Old Port, Huangdao Oil Port and Qianwan New Port
In 1984, three U.S. Navy ships docked in Qingdao, the first time the U.S. docked at a Chinese port in 37 years.
NO.5 Guangzhou Port
Known as the "Maritime Silk Road", Guangzhou Port has a coastline of nearly 250 miles and is an important shipping hub in South China. Located in the Pearl River Delta, Guangzhou is connected to more than 100 ports in China and more than 350 ports around the world.
In recent years, Guangzhou Port has benchmarked against world-class container hub ports, and has taken various measures to promote the development of containers to a new level, consolidating and improving the energy level of Guangzhou Port as an international container hub. In 2021, Guangzhou Port will complete a total cargo throughput of 623.67 million tons, an increase of 1.8%.
NO.6 Port of Singapore
The Port of Singapore is located on the southern coast of Singapore, with the southeastern side of the Malacca Strait in the west and the northern side of the Singapore Strait in the south. It is one of the largest container ports in the world. The port is the main shipping route between the Pacific Ocean and the Indian Ocean, and its strategic position is very important. It has been an international trade port since the 13th century and has developed into an internationally renowned entrepot. The Port of Singapore is also the country's political, economic, cultural and transportation center.
The Port of Singapore has superior natural conditions, spacious waters, and little impact from storms. The administrative area is 5.38 million square meters. The water depth is suitable. Ships with a draft of about 13m can smoothly enter the port and berth. The port equipment is advanced and complete, and computerized information is used. The system also seeks to simplify and facilitate user procedures.
NO.7 Suzhou Port
Suzhou Port, located in Suzhou City, Jiangsu Province, China, is located in the throat area of the mouth of the Yangtze River, starting from Changshan Mountain in the west (the junction of Zhangjiagang and Jiangyin), and east to the south of Liuhekou (the junction of Taicang and Shanghai). The southeast is close to Shanghai, and the southwest is the economically developed Jiangsu, Xi and Chang areas. It is an emerging port built by the combination of Zhangjiagang Port, Changshu Port and Taicang Port, the former national first-class open ports in China. The original three ports correspondingly become Suzhou Port Zhangjiagang Port Area, Changshu Port Area and Taicang Port Area.
In 1968, Zhangjiagang Port Area was established; in 1992, Taicang Port Area was developed and constructed; in August of the same year, Changshu Port Area started construction; in 2002, the original Zhangjiagang Port, Changshu Port and Taicang Port were combined to form Suzhou Port.
NO.8 Port Hedland
Port Hedland, a port on the Indian Ocean coast in the northwest of Western Australia, Australia. Australian iron ore export port. Located on the northwest coast of Western Australia, east of the port town, facing the southern Indian Ocean to the north, 133 nautical miles from Dampier to the west, 258 nautical miles from Broome Port in the northeast, 812 nautical miles from Wyndham Port, 917 nautical miles from Darwin Port, and north of Lombok The strait is 706 nautical miles and has a population of 15,000.
Just this February, Australia's Western Australian state government approved a development plan to allow Port Hedland, the operator, to export 660 million tonnes of iron ore a year, enabling port backers to invest in onshore infrastructure upgrades and advance their investment and development. growth strategy.
NO.9 Rizhao Port
Rizhao Port is located in Rizhao City, Shandong Province, China. It faces the Yellow Sea in the east, Qingdao Port in the north, Lianyungang Port in the south, and faces Japan, South Korea and North Korea across the sea. It is one of the 20 major coastal hub ports developed by China. In 1978, the Shandong Provincial People's Government planned and surveyed the port selection of Rizhao Port. In 1982, the Rizhao Port officially started construction; in 1986, the Rizhao Port opened for operation.
There are 58 productive berths in Rizhao Port, with an annual throughput of over 300 million. There are two major port areas, Shijiu and Lanshan. As of 2010, Rizhao Port has 38 40-ton, 25-ton, 16-ton and 10-ton gantry cranes, 7 high-horsepower diesel locomotives, 2 imported alumina special ship unloaders, tire cranes, excavators and other Heavy, transport and other equipment
NO.10 Tianjin Port
Shot in Tianjin, China.
Tianjin Port is an important port facility and an important logistics and shipping center in North China. It is located on the west coast of Bohai Bay and is also the maritime gateway to Beijing. It is the largest artificial port facility in China and the ninth busiest port in the world. It handled more than 18.35 million TEUs in 2020 and has trade links with more than 600 ports in 190 countries, with more than 120 container routes.
Tianjin Port covers an area of more than 120 square kilometers, with a wharf of 34 kilometers long and has more than 170 berths for cargo ships. It has 2 passenger terminals and 9 port areas, among which the 3 port areas of Beijiang, Nanjiang and Dongjiang undertake most of the trade business. It also has six main and two temporary anchor areas.
As China is an important central node of the global industrial chain, with a large economy and developed industrial manufacturing, and thanks to the effective prevention and control of the epidemic, manufacturing and residents' lives are generally running smoothly. Compared with foreign ports, major ports generally have better performance. High cargo throughput levels.
