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Freight Forwarding in China – Seizing the Initiative in the Downturn
The latest figures from 2010 show that China has now overtaken Japan as the world’s second largest economy after Japan.
This improvement in China’s relative performance is encouraging news for China’s freight forwarding industry, which has been struggling with a global trade downturn in recent years. However, despite the global slowdown, there was some growth in China’s freight infrastructure in 2009 as it anticipated this improved performance and projected growth in demand for freight services. China’s response to the global economic downturn has been to take the initiative and plan for a better future for Chinese imports.
In recent years, China has seen a global decline in demand for Chinese imports, which of course has had a huge impact on the country’s export-dependent freight industry. Demand for Chinese imports such as toys, furniture and textiles has been dampened by the worst economic downturn in decades.
Nowhere has the decline in demand for imports from China been felt more strongly than in the box shipping business. The two largest container ports in China are Shanghai and Shenzhen. Throughput figures for both saw year-on-year declines, and throughput figures mask an even worse performance for loaded containers. Data on the port of Shenzhen for shipping is a direct reflection of production in the Pearl River Delta.
As imports to China also fell due to its own domestic slowdown, the decline in volume was seen in both inbound and outbound containers. Inbound cargo includes raw materials and components, which are then processed into finished goods for export at factories in southern Guangdong, China’s economic powerhouse. The high level of imports of raw materials for downstream processing and export means that China’s freight industry has suffered a double whammy, as the decline in production due to reduced demand for imports from China has a direct impact on international freight traffic to China. also.
During this difficult period, domestic demand in China has led to some growth in domestic container trade, which has been welcome news for many shipping companies. Domestic demand was generally seen in increased cargo trade from the south of China to the north. In general, the benefits of domestic freight are felt more in Shanghai, northern ports such as Qingdao and Tianjin, and smaller ports, e.g. handling more of the domestic trade by shipping companies.
However, spurred by the impact of the global slowdown on China, Beijing has increased its focus on improving international freight infrastructure. The Chinese government is spearheading a number of initiatives. This includes physical upgrades and system revisions that affect international trade and international freight services.
Other initiatives have also helped pave the way for further growth, such as new direct shipping links between China and Taiwan. Kaohsiung, Taiwan, which was the world’s third-busiest container port in the 1990s, has seen its ranking decline with China’s economic rise, as the lack of direct transport links to China has undermined its position and importance to the cargo industry.
The deal between the two former political rivals has renewed Chinese interest in the port and boosted investment plans. Shipping companies used to make costly detours through third countries to get cargo from one side to the other. New direct shipping connections will make freight transport more efficient and cost-effective.
Other initiatives related to the freight industry also took shape during the economic slowdown, putting China in a better position as the recovery came.
One interesting initiative was a joint venture between the US-based CYBRA Corporation and Key West Technologies, which joined forces with the Water Borne Transportation Institute (WTI) of the Chinese Ministry of Transport to develop and manufacture container tracking equipment for international freight transport. The joint venture, Beijing Smart Shipping Technologies (SST), was established to develop smart shipping container equipment and other smart transportation tools to create better visibility of shipments in maritime transport. CYBRA, the developer and distributor of barcode software for IBM, will join its partners in developing the world’s only true end-to-end global tracking and monitoring solution for the freight industry.
As the world’s number one exporter, China is taking a leading role in tracking, monitoring and managing the supply chain despite the slowdown. In the future, safe intermodal freight transport is expected to depend on smart technologies. China’s role in facilitating the commercialization of such products will be of great benefit to shipping companies, and indeed to any cargo company, as it enables them to add value to their services. Smart technology will make it possible to track, monitor and manage every piece of cargo anywhere in the world.
Because of initiatives like these, along with a number of international freight infrastructure improvements being rolled out by the Chinese government, China will be in pole position to maximize the global economic recovery when it arrives.
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