1K
2021/12/31. USD TO CNY TODAY.
Actual USD to CNY exchange rate equal to 6.3545 Chinese Yuans per 1 Dollar. Today’s range: 6.3364-6.3781. Previous day close: 6.3730. Change for today -0.0185, -0.29%. Inverse rate: CNY to USD.
DOWN 6.3545 -0.29%
Opening price of crude oil (WTI) today: 76.668/barrel (↑ 0.08, up 0.1%)
Today’s opening price of crude oil (Brent): 78.818/barrel (, 0.25, a decrease rate of 0.32%)
Opening price of Shanghai crude oil futures: 496 yuan / barrel (↑ 5.7)
International crude oil cost today: 4561 yuan / ton (estimated by formula)
n-Pentane, 95%, increased by 1.59%, and high purity pentane, 99%, increased by 1.32%.
Isoopentane, 95%, increased by 1.29 percentage points, and isoopentane, 99%, increased by 1.14 percentage points.
Among pentane blowing agents/mixed pentanes, the price of which Isopentane accounted for a large proportion, increased by 1.67 percentage points, and that of n-Pentane increased by 1.59 percentage points. After the price of pentane foaming agent decreased by 0.84% on December 28, the price rose yesterday and today.
Cyclopentane product prices remained unchanged today.
Today’s prices of n-Hexane products have not changed except for 90% and 99% products of high purity. The prices of the other three products have increased. The prices of n-Hexane, 60%, n-Hexane, 70% and n-Hexane,80% have increased by 1.33%, 1.30% respectively.
The price of high-purity Heptane products has not changed since it decreased by 6.58% on December 28, and has been at the lowest point in a week. The price of n-Heptane has been relatively stable in the last three days. The decline of n-Heptane price is mainly due to the pressure of supply. The high sea freight leads to the accumulation of inventory. Secondly, Junyuan Petroleum Group, as the largest n-Heptane manufacturer in China, needs to actively seize the market demand and break the procurement rhythm of distributors, traders and middlemen. The bargain hunting of customers will gradually break the decline of n-Heptane price. However, in the long-term trend, in January 2022, the n-Heptane market will still face the situation of weak supply and demand. At that time, we still need to pay attention to whether the downstream construction will be limited by policies, whether the new production capacity can be put into operation as scheduled, and the supply and demand of the market before the Chinese New Year.
Chemical News
CNOOC’s CNOOC Gas Power Group Co., Ltd. (hereinafter referred to as “gas power group”) announced on the 21st that it had signed a 20-year, 2 million ton / year long-term liquefied natural gas (LNG) resource purchase and sales agreement with venture global LNG. This is the sixth long-term LNG import agreement between China and the United States this year. Previously, Sinochem, ENN and other enterprises signed a long-term LNG import agreement with the United States. Before this year, there was only one long-term agreement contract being performed between China and the United States.
In addition to the surge in long-term LNG agreements, LNG spot imports have also increased significantly this year. According to customs data, from January to November 2021, the United States exported about 8.26 million tons of LNG to China, surpassing traditional LNG suppliers such as Qatar, Malaysia and Indonesia, and becoming China’s second largest supplier, with the supply proportion increasing from 4% in 2020 to 11%.
Two factors promote the increase of LNG long-term cooperation and trade volume between China and the United States
First, the embodiment of the national strategic will. The LNG long-term agreement signed by China this year mainly comes from Qatar, Russia and the United States. Increasing the LNG import of the United States is conducive to balancing the trade with the United States and reducing the trade deficit.
Due to the tense relations between China and Australia, China announced an indefinite suspension of economic and trade activities with Australia. As China’s most traditional LNG supplier, there is no new long-term agreement contract between China and Australia this year, and Australia’s potential share is basically divided up by the above three countries.
Second, the rich natural gas resources of the United States urgently need to be exported. The EIA predicts that the peak natural gas production capacity of the United States will reach 13.9 billion cubic feet / day by the end of next year. In terms of infrastructure, the new sixth production line of Sabine pass and the export terminal of Calcasieu pass will be put into operation at the end of this year and next year respectively to support the large-scale export of LNG from the United States. According to the information released by the U.S. energy information administration, the United States will become the world’s largest LNG exporter by the end of 2022.
Because of the increasing influence of us LNG exports on the global market, more investors have turned to Henry hub to manage the risk exposure of natural gas prices. Henry port natural gas futures contract is a product of Chicago Mercantile Exchange (CME). It takes Henry port, Louisiana, as the delivery place. Here is the intersection of several interstate and intrastate natural gas pipelines and related infrastructure. Natural gas shippers and sellers can use the pipelines here at any time to meet the needs of the Midwest, northeast, Southeast and southeast of the United States Market demand in the southeast and Gulf Coast. As Henry port has important geographical advantages and perfect logistics infrastructure, it is not difficult to understand why Henry port futures contract will become the price benchmark of the natural gas market.
Shipping Information Hotspot
At the end of 2021, the demand for logistics remained strong. With the global supply chain congestion, continuous interruption and COVID-19, Maersk cautiously expects that the freight outlook will be more optimistic at the beginning of next year.
At the end of 2021, the demand for logistics remained strong. With the global supply chain congestion, continuous interruption and COVID-19, Maersk cautiously expects that the freight outlook will be more optimistic at the beginning of next year.
The Chinese Lunar New Year holiday is coming. Some barge services in South China will be suspended, and there may be a freight peak before the festival. The carrier shall also pay attention to the changes in the HS code of import and export commodities.
As the most important festival in China (February 1 this year), the lunar new year will have a certain impact on the global supply chain. In previous years, the lunar new year was the peak season for China’s exports; Influenced by the recent COVID-19 situation, most factories are still closely monitoring the epidemic trend, especially the local government’s guiding policies, so as to determine the corresponding production plan and holiday arrangement. It is expected that the official will give clearer guidance by January. Maersk expects that the freight demand will remain very strong and the freight volume will remain at a high level from December to the lunar new year in 2022. But COVID-19 may still have some impact on the global supply chain.
Prospect of shipping capacity and container condition in the first quarter of 2022
The shipping schedule is delayed and the transportation capacity will continue to be limited. Maersk expects that the shipping space will still be very tight during the whole lunar new year. It is expected that the supply of 40 inch containers will be insufficient, but there will be a surplus of 20 inch containers, especially in Greater China. There will still be a shortage of containers in some areas before the lunar new year, the export market will continue to be saturated, and the overall import demand is expected to remain at a roughly similar level.
Main route trends
Asia to northern Europe: the interruption of transport capacity will still affect the overall transport capacity. At least until the lunar new year, capacity disruptions will still be common. Our goal is to use the advantages of extensive freight network deployment to invest in overtime ships under appropriate circumstances to digest the backlog of goods, so as to maintain agility. We will update the shipping schedule information regularly and inform the estimated arrival time / estimated departure time.
Asia to the Mediterranean: in order to restore the punctuality rate, we will continue to implement the wrong flight strategy in December and January 2022 to further enhance the transportation capacity. During this period, we will also deploy overtime ships to alleviate the capacity gap.
Asia to North America: due to port congestion, transport capacity is expected to continue to decline. We plan to put four overtime ships into operation in December, so as to reduce the impact of air flights. The congestion of North American ports is unlikely to improve in a short time, so customers are advised to appropriately extend the delivery cycle between the estimated arrival time and the actual departure time.
Asia to Latin America: RO ro cargo transportation will be under control. The waiting time at the departure and destination ports is long, which will still bring some pressure on the alignment rate. For x4a route, we are considering suspending the berthing at Busan / Hong Kong port every two weeks to ensure that the ship sails on time from Asia. Ac2 route will be suspended from Yantian or Ningbo, AC6 route will be suspended from Kaohsiung, Ningbo or Shanghai at the origin and Balboa at the destination to avoid further delay of shipping schedule. During the peak period of spring transportation, it is expected that the margin of 40 inch containers will be very tight. Therefore, it is recommended that customers provide loading plans as soon as possible and consider replacing 40 inch containers with 20 inch containers, so as to realize early shipment.
Asia to the Middle East, India and Pakistan: it is expected that the transportation capacity will be very tight. During December and January 2022, fi4 flights will be opened once a week on the east coast of India, and it is expected to resume weekly docking from February.
Asia to Africa: before the lunar new year, the supply of 40 inch containers will be very tight. It is recommended that customers book space in advance and consider 20 inch container as an alternative. There will be a capacity bottleneck in North China.
From Asia to Australia and New Zealand: the waiting time at the port of origin and destination is long, which will still bring some pressure on the transportation capacity, and it will be very difficult to maintain the normal weekly shipping shift.
Oceania export: the supply of 20 inch freezers in the first quarter is still very tight, and this situation is expected to continue until the peak export season in 2022. Customers are advised to use 40 inch freezers to avoid supply chain disruption. The supply of food grade cabinets in Oceania is still very tight, and Australia is expected to have a strong agricultural export season climax. We have suspended short-term transportation reservations for exports to Southeast Asian destinations and fully support the freight transportation of Tanjung Palapas port in the peak season. It is expected that there will be sufficient space for general cargo export from the east coast of Australia to Northeast Asia and greater China.
Imports from Asia: shipping delays and port congestion are expected to persist, especially in Europe and North America. This will have a negative impact on the on-time delivery of goods. The exclusive cherry express route to Chile will be opened in the 51st and 52nd weeks.
Key words: at the end of 2021, logistics demand remained strong. With the global supply chain congestion, continuous interruption and COVID-19, Maersk cautiously expects that the freight outlook will be more optimistic early next year.
