EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 22

📌Weekly Logistics Highlights:

 Hong Kong, China

🔹Hong Kong International Airport Reports 35.9% Passenger Surge, 13.9% Cargo Increase in April 2024

Airport Authority Hong Kong (AAHK) released the air traffic figures for Hong Kong International Airport (HKIA) for April 2024 today. In April, HKIA handled 4.23 million passengers and 29,055 flight movements, marking year-on-year increases of 35.9% and 34.7%, respectively.The significant growth was driven by the long Easter holidays starting at the end of March, resulting in higher traffic across all passenger segments. Traffic to and from Southeast Asia, Mainland China, and Japan saw the largest increases during the month.

 Shenzhen, China

🔹China Vanke sells plot for $309.18 million in Shenzhen

HONG KONG and BENGALURU (Reuters) -Embattled Chinese property developer China Vanke said on Monday it had completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago.The company has said it aims to boost cash flow this year with bank financing and more asset disposals worth more than 30 billion yuan.

 Guangzhou, China

🔹China launches new cargo service linking Tibet with Nepal

China has launched a new cargo service linking Tibet and Nepal as dozens of trucks carrying goods worth USD 2.8 million left the Tibetan border port of Gyirong en route to Kathmandu. The new rail and road cargo service launched on Friday, linking Guangdong, Tibet and Nepal, aims to boost trade with the South Asian neighbour as China pushes forward its Belt and Road (Silk Road) initiative, state-run 'Xinhua' news agency reported on Saturday. A train carrying products, including shoes, clothes, hats, furniture, appliances, electronics and building materials, covered the 5,200-kilometer distance between Guangzhou, capital of Guangdong Province, and Xigaze in Tibet.

 Shanghai, China

🔹Cold chain logistics firm established at pilot free trade zone in Shanghai

Cold chain logistics firm established at pilot free trade zone in ShanghaiEastern Air Logistics started to engage in the specific business sector in 2013 by launching chartered cargo flights shipping cherries from Chile to China.After more than a decade of fresh logistics operations, the logistics company has expanded its cold chain business to a scale of up to 2.4 billion yuan in 2023, according to China Eastern.

 Tianjin, China

🔹ConocoPhillips strengthens ties with Tianjin

ConocoPhillips, one of the largest foreign investors in China's upstream oil and gas sector, is looking to strengthen its partnership with China through low-carbon initiatives and energy supply, the company's top executive in China said.ConocoPhillips aims to leverage its global expertise in gas and liquefied natural gas and explore potential opportunities in China's LNG business sector, to further support LNG growth in the region and contribute to China's energy security," said Markel Hubinette, the company's China president, in an interview at the Binhai Media Center.It has been a strong partner with Tianjin and Binhai New Area over the past two decades. Its track record includes supplying more than 15 million metric tons of LNG to Tianjin from its joint venture projects, and it has been instrumental in supporting the city's energy security and carbon neutrality objectives.

 Qingdao, China

🔹

 Vietnam

🔹Hai Phong focuses on digital transformation in logistics

Hai Phong (VNA) – The fifth regional logistics forum, held in the northern port city of Hai Phong on May 28, addressed the crucial role of digital transformation in propelling growth of the Red River Delta's logistics sector. Discussions at the event focused on identifying trends and challenges in digitalising logistics, exploring international best practices and analysing Vietnam's existing policies and mechanisms to support this transformation.

 South Korea

🔹CJ Logistics Establishes ‘Reverse Direct Procurement Alliance’ Frontline with US, Japan

CJ Logistics announced on May 29 that it will establish a cross-border logistics network by partnering with local leading logistics companies in the United States and Japan, enabling one-stop services from export customs clearance and forwarding to local delivery.In the United States, CJ Logistics partners with multiple local leading logistics companies such as FedEx to serve as its delivery partners. Through air freight forwarding, CJ Logistics transports shipments to major hubs like Los Angeles International Airport (LAX) and New York JFK International Airport, and local logistics companies with extensive last-mile delivery networks handle the final delivery.In Japan, the top two local courier companies with whom CJ Logistics has signed delivery contracts handle the delivery of products purchased through reverse direct procurement at airports such as Tokyo Narita Airport to the final customers.

 America

🔹American Airlines Cargo Partners with CargoAI

American Airlines Cargo has announced a strategic partnership with CargoAi, a leading digital enabler in the air cargo industry. This collaboration will aim to elevate airfreight booking capabilities on CargoMART, CargoAi’s cutting-edge platform for freight management with the addition of the carrier’s extensive network. Through this partnership, American Airlines Cargo will begin to seamlessly integrate into CargoMART, offering freight forwarders access to a comprehensive network of routes and a streamlined booking process. The advanced technology and functionalities of CargoMART are a compliment to the carrier’s own digital booking platform, aacargo.com, thus enhancing the digital experience for customers seeking capacity and managing bookings on American’s cargo network.

 Bangladesh

🔹Bangladesh’s business climate hits 3-year low plagued by power outages, financing crunch

The report, launched by the Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Exchange, Bangladesh (PEB), highlights several key concerns.The decline in the BBX is mainly due to power outages, difficulties accessing transport and logistics services, increasing production costs, complex tax systems, and challenges accessing finance. This information was highlighted in the BBX 2023-24 report, launched by the Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Exchange, Bangladesh (PEB) on Thursday.The report's analysis revealed that Rajshahi topped the list with a score of 61.48, while Barisal was at the bottom with a score of 54.73. Dhaka outperformed Chittagong with scores of 59.61 and 56.73, respectively, for 2023-24.The report also noted that small businesses continue to face difficulties in accessing finance due to the concentration of large and medium enterprises in Dhaka and Chittagong.

 Myanmar

🔹 The Governor of the Central Bank of Myanmar meets with the Ambassador of Bangladesh to Myanmar
On May 24, 2024, the Governor of the Central Bank of Myanmar, Mr. MS, met with H.E. Dr. Maryland, the Ambassador of Bangladesh to Myanmar, at the Central Bank meeting hall in Naypyidaw. Deputy ministers from Myanmar and the Governor of the Central Bank also attended the meeting. The discussions during the meeting focused on promoting trade between Myanmar and Bangladesh, bilateral currency settlements, and the development of the banking sector.

🔹 MNA resumes Yangon-Sittwe flights
MNA Airlines announced plans to resume flights between Yangon and Sittwe starting from June 2, 2024. The fare for the flights is reported to be 187,000 Myanmar Kyats, and the flights will operate on a weekly basis, specifically on Sundays. MNA Airlines had temporarily suspended the Yangon-Sittwe flights since November 2023 due to ongoing conflicts between the Myanmar Ministry of Defense and the Arakan Army (AA) near the town of Sittwe in Rakhine State.

Share this article :