Page 678 - Economia Azul - versão: inglês

generate pressure on the economic system, salaries of the crew of the ships, due to the in the chain in this period to also have ships were waiting that long. However, as
which is reflected in the increase in the risks associated with the activity during this movement capacity, such as warehous- of September 2021, there was a reduction
prices of goods, causing inflation, since the period. Added to this is the problem relat- es, land, road and rail transporters, labor in the value of BDI, the reason reported
entire distribution chain is under pressure. ed to the long time that crews are staying availability for movement, which were re- referred to a reduction in demand from
We cannot forget that the fact that the on board ships, in many cases unable to ported as existing problems on land that China, mainly in the construction industry,
Ever Given ship ran aground in the Suez leave the ship, due to health restrictions in affect maritime transport. combined with information on a reduction
Canal in March 2021, also contributed to several ports around the world. The effect On the other hand, other sectors also in production from VALE, which impact the
increasing congestion in ports in Europe is depression and anxiety problems, which experienced an increase in freight prices, freight market for ore carriers (GCAPTAIN,
and Asia, as well as increasing the disrup- affect part of the crew. A survey by BIMCO/ such as solid bulk. An indicator that mea- 2021). Thus, in this market, an oscillation is
tion of the container transport system. This ICS predicts potential shortages of nearly sures the freight market in this segment is natural, but we can observe that in the pe-
channel is responsible for 12% of global 150,000 officers by 2025, according to the Baltic Dry Index (BDI). This is issued dai- riod of the pandemic, the trend of freight
cargo movement. In absolute numbers, Bloomberg (2021) and the International ly by the London-based Baltic Exchange. growth continued, due to the high demand
this means approximately 1.32 billion tons Union of Marine Insurance (2021). The BDI is a composite of the averages of from China.
per year. Daily, we estimate that 3.6 mil- We can look at this problem as a big the Handmax (38 kt), Capesize (180 kt), On the other hand, even in this confus-
lion tons pass through the channel. Con- game of dominoes, or a ripple effect. Panamax (82 kt) and Supramax (58 kt) ing period for the maritime market, ship-
sidering that it was stopped for 7 days, With ships standing in queues at ports in scales. It is reported around the world as owners have had the best results in recent
there is a total of at least 25 million tons Europe, Asia and the United States, full a substitute for dry bulk shipping stocks times. Operating margins for container
that stopped circulating over that period; containers are not unloaded, and empty as well as a thermometer of the maritime shipping companies accelerated at a faster
the queue reached about 400 ships that containers cannot be picked up to be re- market. In this market, as we mentioned rate in the third quarter of 2021, with the
were stopped, waiting for the release of inserted into the transport chain. All these earlier, we noticed that there was nothing average proportion booked by the top ten
the channel at its ends. These stopped combined effects generate an impact on similar to what happened between 2004 lines reaching 56%. When analyzing Figure
ships failed to meet their arrival schedule the international maritime transport sys- and 2008. Even in the period of Covid-19, 4, we see that in 2019 the average operat-
at ports for loading and unloading, as well tem that directly influences the freight when there was an increase in the BDI in- ing margin was only 3.7%. According to
as not supplying the logistics chain. After prices of containers and other segments dex, the same levels of increase were not the Global Maritime Hub, after the release
the channel was released, these same of maritime transport. In November 2021, witnessed. In terms of time charter values, of the third quarter results, the top 10 con-
ships moved to the ports, transferring the ports of Los Angeles and Long Beach in January 2019 it was quoted at USD 10 tainer ship owners who publicly reported
the queue from place to place, since the reported that there were 87 ships queued to 15 thousand/day, and in September stated that they will be able to achieve op-
movement capacity in the ports is limited up waiting to operate in their berths. The 2021 USD 30 to 45 thousand/day, with erating profits of US$115-120 billion for
due to their productivity. impact of this disruption in the logistics Capesize reaching the highest values, ac- their shipping activities in 2021, more than
The impact of the rupture of the logistic chain reflects that ports have implement- cording to BIMCO data (2021). 6 times the value in 2020.
chain generates the effect of the shortage ed fees for logistics operators to withdraw In 2021, one of the factors impacting In this way, it is possible to see that du-
of ships, crew, and containers available as quickly as possible to reduce the excess high freight rates can be partly attributed ring the pandemic, container owners, as
for the transport of goods. The shortage dwell time of containers at the port (S&P to restrictions and problems at ports due to well as bulk owners, achieved positive re-
of ships meant that the shipowners had GLOBAL, 2021). the pandemic, which are holding up ships sults, in terms of freight and charter values.
to readjust their routes, as well as the ser- Other US ports have also adopted tar- longer than usual. According to BIMCO Shipping companies had to strengthen
vices made available to customers. At the iff increases in the second half of 2021 data, the study being conducted by Ocean- their alliances to fulfill the commitments
beginning of November 2021, shipowners to force operators in this logistics chain bolt, as of September 2021 around 674 dry made to their customers, especially at the
began to report difficulties in composing to free up space in container yards. As bulk ships were waiting in China for two beginning of 2020, a period of great un-
their crew, due to the restrictions imposed the entire distribution system is integrat- days or more to dock. In the same pre-pan- certainty for the global market. However,
by Covid-19, as well as an increase in the ed, there is a need for the other links demic period of 2019, only 287 dry bulk with the advancement of vaccination and

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