In 2021, China publicly auctioned more than 890 ships and sold more than 450 ships, with a year-on-year increase of 49.2% and 36.6% respectively; The total starting price was RMB 7.6 billion and the total transaction price was RMB 4.8 billion, with a year-on-year increase of 144.8% and 141.9% respectively.

The COVID-19 has not subsided since early 2021, but most countries in the world have resumed production. The increase in industrial production has led to the growth of global bulk material demand, which has led to an increase in demand for shipping. Driven by the rise in freight rates, shipowners have expected good future, and shipping transactions have been gradually active, prompting the increase in the number of ship transactions.

Take the two bulk carriers of Hong Kong nationality of China "Jin Tao" and "Jin Qi" that were simultaneously auctioned globally on December 23, 2021 as an example. The transaction prices of the two ships were US $16.06 million and US $17.34 million respectively, exceeding the starting price of US $3.56 million and US $4.34 million respectively. 

The auction of the two projects has attracted the attention of buyers from more than 40 countries and regions around the world, indicating that the way of ship auction is increasingly recognized by the international market.  

Although the freight rate is in the "off-season", the industry is still cautiously optimistic about the overall trend in 2022.

Although the production of various countries has gradually recovered, intermittent large-scale infection events occur frequently, and the port epidemic prevention policies of some countries are constantly changing, resulting in port congestion, increased supply chain costs, decreased ship turnover rate and tight market capacity, which promotes the continuous rise of ship transaction prices.

China's epidemic prevention and control is excellent, and the manufacturing industry has a high degree of recovery. Whether manufacturing, import and export enterprises or shipping enterprises responsible for transportation can show their strength in China's good domestic economic environment. Shipping enterprises rely on a good economic and trade environment to eliminate old transport capacity and increase ships that meet international emission standards, so as to pave the way for better development in the future.