EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 18

📌Weekly Logistics Highlights:

 Hong Kong, China

🔹 New Airport Authority chairman appointed

The Government has announced the appointment of Fred Lam as the new chairman of the Airport Authority. In addition, three new members, Dorothy Chan, Ann Kung Yeung, and Perry Yiu, have been appointed to the authority's board, while Sabrina Chao and Edwin Tong have been reappointed. These appointments will start from June 1 and last for a term of three years. The outgoing chairman, Jack So, received appreciation for his leadership and commitment during his nine-year tenure, where he made significant contributions to the planning and construction of the three-runway system, development of Airport City, expansion of transportation networks, and improvement of air services. Fred Lam, the current Chief Executive Officer (CEO) of the authority, has been welcomed as the new chairman, and the Secretary for Transport & Logistics, Lam Sai-hung, looks forward to working closely with him to enhance Hong Kong's position as an international aviation hub and advance the long-term development of the airport.

 Shenzhen, China

🔹Jayud Global Logistics Announces Entry into the North American Market with the Acquisition of HYTX Warehouse Inc

Jayud Global Logistics Limited, a prominent supply chain solution provider based in Shenzhen, has announced its expansion into the North American logistics market through its subsidiary, Joyed Logistics Services Inc. The company has entered into an agreement to acquire a 51% controlling stake in HYTX Warehouse Inc., a well-established logistics company headquartered in California. This strategic move aligns with the expected growth of over 10% per year in the global e-commerce logistics sector. North America has surpassed APAC as the leading region for e-commerce logistics revenues, and the market is projected to reach approximately US$788 billion by 2027. The acquisition comes at a time of robust global air cargo demand, driven by a flourishing international market and thriving e-commerce. HYTX brings extensive logistics technology experience and a strong network of global suppliers and warehouses. This acquisition enables Jayud to offer comprehensive one-stop services, catering to the diverse needs of overseas warehouses, including drop shipping, bulk forwarding, returns and label replacement, and last-mile delivery arrangements.

 Guangzhou, China

🔹EHang and Greater Bay Technology Form Strategic Partnership to Jointly Develop World's First Ultra-Fast/eXtreme Fast Charging Batteries for eVTOL

GUANGZHOU, China, April 28, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, announced that it has established a strategic partnership with ultra-fast charging-focused Guangzhou Greater Bay Technology Co., Ltd. (“Greater Bay Technology” or “GBT”) at the 16th Chongqing International Battery Technology Exchange Conference/Exhibition for the research and development of the world’s first Ultra-Fast Charging (“UFC”)/eXtreme Fast Charging (“XFC”) battery solutions for EHang’s electric vertical takeoff and landing (“eVTOL”) aircraft. The partnership is to promote the research and development as well as industrialization of eVTOL power system components and modules in the UAM sector, laying an ecological foundation for commercial operations of the low-altitude economy.

 Shanghai, China

🔹Hong Kong to sign 20 cooperation documents with Shanghai to boost ties in digital economy, finance, among other fields

City leader John Lee says two cities have reached consensus on 65 projects spanning 15 sectors, including innovation, technology and industrial developmentShanghai mayor Gong Zheng says strengthening cooperation with Hong Kong is of 'great significance' in promoting respective prosperity and developmentHong Kong will sign 20 cooperation documents with Shanghai to strengthen ties across various industries, the city's leader has said at a conference that seeks to bring the two metropolises closer.

 Tianjin, China

🔹Port of Tianjin China expresses willingness to assist transforming Colombo Port

A special delegation, led by the Chairman of the Port of Tianjin, visited the Minister at the Ministry office on April 29, 2024. Currently ranked No. 9 in the global container port rankings, the Port of Tianjin joins other major container ports worldwide in initiating efforts to become green ports, aiming to reduce carbon dioxide emissions.Scientific consensus confirms that the escalating industrialization and subsequent rise in global warming due to carbon dioxide emissions are contributing factors to natural disasters resulting from climate and weather changes worldwide. Consequently, there is a proposal to prioritize the utilization of green ammonia to diminish reliance on various fossil fuels.

 Qingdao, China

🔹China and Azerbaijan forge ahead in economic partnership

On April 29, Azerbaijani President Ilham Aliyev held a meeting with Yan Wangmin, the chairman of the Chinese People's Association for Friendship with Foreign Countries. During the conversation, Aliyev expressed satisfaction with the level of political relations between the two countries and noted the activation of bilateral ties. Particular attention was given to cooperation in the transportation sector, specifically to the work on the Trans-Caspian Transport Route, which is part of the Middle Corridor. The Trans-Caspian International Transport Route, or the Middle Corridor, stands out as a reliable, secure, and economically viable alternative linking China with Europe through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, and Turkey. Presently, this route supports the flow of goods from various Chinese cities such as Xi'an, Chengdu, Qingdao, Chongqing, Lianyungang, and Jinhua.

 Vietnam

🔹Hanoi's logistics industry development fails to meet potential

Despite its advantageous geographic location and comprehensive transport connectivity, the logistics sector in Hanoi has not fully realized its potential, according to experts. Currently, approximately 40% of goods from other regions pass through the city. Hanoi boasts 10 operational industrial parks, over 100 industrial clusters, 150 supermarkets, 454 wet markets, and more than 10,000 convenience stores catering to its 10 million residents. However, the development of the logistics industry in the city is hindered by challenges such as a fragmented and limited warehouse system, as well as a lack of specialized storage facilities like cold and cool storage. These limitations need to be addressed to unlock the full growth potential of Hanoi's logistics sector.

 South Korea

🔹S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project

Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.Jeil E&C’s project will cover over four hectares in Long Thanh high-tech park. The project is set to meet the high demand for warehouses among retailers and e-commerce businesses, in the context that the mega Long Thanh International Airport is under construction in the province.

 America

🔹FMCG Logistic Market Projected to Reach US$ 175.0 billion by 2034: Exclusive Research Report by FMI

NEWARK, Del, April 26, 2024 (GLOBE NEWSWIRE) -- The FMCG Logistic market is on its way to marking a valuation of US$ 117.1 billion in 2024. With the rapid boom of both the eCommerce and FMGC industry, market players can expect a 4.1% CAGR between 2024 and 2034. This could potentially result in a market valuation of US$ 175.0 billion by 2034.As consumer preferences move towards online shopping, the demand for fast-moving consumer goods has increased, which has created new opportunities for investors to invest in the industry. With the integration of better technology and improved convenient logistic services, the market is expected to gain even more potential in the coming years.

 Bangladesh

🔹Bangladesh plans mega investment in transport, communication for next two fiscal years

DHAKA, April 29 (Xinhua) -- The Bangladeshi government plans to substantially increase public investment across key sectors such as road, rail, bridge, shipping, civil aviation, and telecommunications, aiming to transform Bangladesh into an upper middle-income country by 2031 and a smart, developed country by 2041.According to the Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26), the government plans to allocate 963.9 billion taka (8.79 billion U.S. dollars) in fiscal year 2024-25 (FY 25), escalating to 1.06 trillion taka in FY 26, United News of Bangladesh (UNB) reported Monday.This increase follows an investment of 876.3 billion taka for the current fiscal year, emphasizing a significant boost in funding for various development programs.The policy document highlights the critical role of an integrated and cost-effective transport and communication system in fostering economic growth, enhancing trade, and ensuring social integration.

 Myanmar

🔹Myanmar Port Authority: 51 cargo ships scheduled to dock at Yangon Port in May 2024
The Myanmar Port Authority has announced that a total of 51 cargo ships are scheduled to dock at Yangon Port in May 2024. Looking at the current docking status at Thilawa Port, in January 2024, 49 ships docked, followed by 53 ships in February, 55 ships in March, and 50 ships in April. In 2023, a total of 645 ships docked at Yangon Port from January to December. The Myanmar Port Authority is currently witnessing an increase in trade through maritime commerce and is making efforts to enhance international cargo ship activities.

🔹Myanmar Defense Minister Visits Thailand

On April 30, 2024, a delegation led by Mr. Tun Aung, the Minister of Defense of Myanmar's National Administration Council, visited Thailand under the coordination of Air Chief Marshal Punpakdee Pattanakul, the Commander-in-Chief of the Royal Thai Air Force. During the meeting, discussions were held on strengthening cooperation and enhancing bilateral relations between the air forces of Myanmar and Thailand.

🔹National Administration Council Imposes Ban on Overseas Employment for Myanmar Men

According to the Ministry of Labor in Myanmar, the National Administration Council has issued a ban on overseas employment for Myanmar men starting from May 1, 2024. However, it should be noted that this ban does not include men who have already obtained official overseas employment permits until April 30th.

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