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High-frequency Commodities at Sea data shows drop for Chinese imports easing, early signs of recovery from depressed levels

25 February 2020 Rahul Kapoor

High-frequency Commodities at Sea data shows drop for Chinese imports easing, early signs of recovery from depressed levels.

  • China is the world's biggest importer of bulk commodities such as iron ore, crude oil, coal and is the demand driver of major globally-traded commodities.
  • The immediate impacts of the coronavirus outbreak are already numerous with respect to trade: labour shortages at Chinese ports have led to instances of slower discharge rates for arriving cargoes.
  • Commodities at Sea model runs twice a day and provides immediate activity capture for vessel activity down to the port level.
  • Tracking vessel discharges in real time in Chinese ports over the last few weeks provides superior visibility into Chinese industrial activity levels before after-the-fact government reports.
  • Seasonally adjusted, post-Chinese New Year, dry bulk vessels discharging in China nosedived 30-40% from average levels.
  • Average weekly crude oil discharged in China has returned closer to normal levels despite a lower vessel count.
  • Commodities at Sea reveals China prioritising larger vessels to discharge amid limited personnel availability at ports.

Download our presentation for more information.

Posted 25 February 2020 by Rahul Kapoor, Vice President, Global Head of Commodity Analytics & Research, Maritime & Trade, IHS Markit

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