China: Continuing upward in freight traffic

China Containerized Freight Index (CCFI) rose slightly by 1.2\% regarding Chinese container shipments in the first 8 months of 2019, reaching 826.6 points versus 817.8 points in the same period last year.

Also, the corresponding index for bulk dry cargoes increased by 6.5\% , touching 1,040 units, according to the Shanghai Shipping Exchange (SSE). Between January and August, the index moved at 1,024.04 units on average.

However, trade between China and the US seems to be dwindling … It is noteworthy that the value of US exports to China in 2018 decreased by 7\% to 118 billion US dollars and, as stated by competent authorities, this trend continues this year mainly due to the new cycle of duties between the two countries.

In the meantime, despite the crisis in Sino-American trade relations, this is not the case with other countries. So, as it became known, Vale and the Yantai port authority in northern China signed an agreement to boost the presence of the Brazilian colossus in Asia and explore new development opportunities.

It should be noted that Yantai Port is located at a strategic point of international trade, the Bohai Sea and aims to become a Brazilian metal transport hub for China, Japan, South Korea and other Asian markets.

Yantai Port also has an iron ore terminal and is able to service VLOC ships that ship iron ore, which could boost Vale’s iron ore sales in Asia and China.