- March 23, 2023
Importance of Taiwan Strait
Almost half of the world’s container fleet will sail across the Taiwan Strait this year, making it a vital route. Supply networks, which have been suffering since the outbreak of the epidemic and Russia’s invasion of Ukraine, are now experiencing yet another setback. Shippers changed course as China started its most provocative military exercises near Taiwan. At 4 p.m. local time on Thursday, Taiwan reported that China had launched 11 missiles into the surrounding waters (Aug 4). China warned ships and aircraft not to approach the zones where the maneuvers were taking place in reaction to US House Speaker Nancy Pelosi’s visit to the island this week.
Thursday saw a continuation of exercises over the Taiwan Strait, according to information gathered by Bloomberg. Although the data indicated that there were around 15 vessels in the drill zones at midday, many have left the impact zones before the drills started. In the area of the Taiwan Strait and to the east of the island closest to the Chinese mainland, there were no ships. Anoop Singh, head of tanker research at Braemar, says that the situation is changing and that at least one of the shipowners has prohibited ships from passing across the Taiwan Strait.
Delays in shipment
Shipbrokers predict that some ships’ new routes around the island’s eastern side will cause delays of up to three days. Delays of that length are not unusual, and if tensions subside next week, the long-term impact might be negligible. However, poor weather may exacerbate the risks for ships passing through Chinese seas, posing a potential for more delays. As of Thursday morning, Shenzhen city, which is home to the Yantian container port and is located directly to the west of Taiwan’s southernmost point, issued a tropical cyclone warning based on a low-pressure system that was about 117 kilometers (73 miles) away.
According to a trader and an insurance broker, ships are also being redirected to Chinese waters, and the Taiwan Strait has not yet been classified as a war risk zone for insurance purposes. According to ship-tracking data obtained by Bloomberg, at least 3 liquefied natural gas tankers near Taiwan changed course to avoid military drills. Others are slowing down in order to avoid the moves, which will cause minor delivery delays to Taiwan and surrounding locations, according to merchants. According to Taiwan’s transportation minister Wang Kwo-tsai, the Maritime Port Bureau of Taiwan issued a notice alerting ships to avoid the areas where drills are taking place because there is no set path for sea transit.
Impact on trade
If the strait were ever closed to commercial traffic, it would be a negative for cargo shippers and a positive for ship owners and operators. Delays would push up transit time and reduce effective vessel capacity, boosting freight rates. “The Taiwan Strait is one of the busiest straits in the world,” said Maersk CEO Soren Skou during his company’s quarterly conference call on Wednesday. The uncertainty dragged the Taiwan Taiex Shipping and Transportation Index, which tracks major shipping and airline stocks, down 1.05 per cent on Thursday. China, as the world’s largest exporting nation, would have much to lose by taking any military action that disrupts its own commercial links to the world. Considering the number of vessels traversing the Taiwan Strait, even a minor disruption could have an impact on world trade during the peak season for shipping goods to the US for the Christmas season. Looking at import and export data from Trade Data Pro, we can see the companies that are shipping via Taiwan Straits and spot potential supply chain issues before it happens.
How did we find out about this information?
By using Trade Data Pro , we can see all the important information such import and export data as well as buyers archives. CIC’s Intelligence detected that 台湾总统网 瘫 https://www.president.gov.tw/
and 防卫部队网 瘫痪 https://www.mnd.gov.tw until now are still affected by Ddos attack and the websites remain unreachable as of 5 Aug.
Business owners can take advantage of this chance to look for all the Taiwanese suppliers who were impacted by China’s export embargo by importing at lower costs. To combat this issue, business owners in Taiwan can find firms interested in exporting their products. The Buyers Archive at Trade Data Pro contains comprehensive contact information for company owners and trade history. This may facilitate businesses seeking buyers or suppliers to obtain precise and dependable data sources. Here are some examples of Taiwanese export and import data.
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Businesses need information to reveal trends, identify market opportunities, track competitors buyers and suppliers, and better understand supply chain potential. Finding these critical data has traditionally been challenging. But this information do exist, but as part of government import and export filing requirement. The detailed shipment information which are within these filings constructions the core of the global trade. Trade Data Pro has gathered and packaged these information as business intelligence. Our solution helps companies understand the flow of goods across borders and features the world’s largest searchable trade database. We do the heavy lifting for you by reviewing, standardizing, and cleaning data, then delivering in an intuitive format.
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