rectangle

The Power of Logistics to Move the World!
It's the Power of extrans.

EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 29

📌Weekly Logistics Highlights:

The news highlights this week include:JD to Build GBA Logistics Clearinghouse in SZ,Tianjin Cold Chain Logistics Industry Alliance Established,Vietnamese enterprises suffer from growing sea freight prices,Air Incheon to consider widebody freighter orders after Asiana cargo purchase...
 

 

 Hong Kong, China

🔹Hong Kong warehouse vacancy increases to 7.9% in Q2

Warehouse rents declined 1.5% due to vacancy pressure.In a report, CBRE said Hong Kong industrial leasing momentum weakened further in Q2 2024. The biggest deal involved YA Logistics leasing 147,500 sq. ft. in Mapletree Logistics Hub Tsing Yi, followed by Dubai-based logistics company Aramex leasing 39,100 sq. ft. in interlink.Warehouse vacancy rose 2.5 percentage points to 7.9% mainly due to the release of space in Cainiao Smart Gateway previously reserved by the landlord.Persistent vacancy pressure caused warehouse rents to drop 1.5% quarter-on-quarter, marking only the second quarter-on-quarter decline reported since Q4 2020.

 

 Shenzhen, China

🔹 JD to Build GBA Logistics Clearinghouse in SZ, Operation Starting From 2026

Chinese media report that JD-SW (09618.HK)'s Greater Bay Area Intelligent E-commerce Operation and Logistics Clearinghouse will be built in Bao'an, Shenzhen, as the Group's first integrated logistics project in the city.The project's total investment would be RMB1.36 billion and the site area encompassed 69,000 square metres. It is expected to come into operation in early 2026, with an estimated annual revenue of RMB16 billion.Related NewsJefferies Estimates JD LOGISTICS 2Q Rev. to Rise 7% YoY, Non-IFRS NP RMB1.25B. According to the report, JD will build a number of intelligent warehousing and sorting facilities, including an intelligent e-commerce order production centre and a logistics hub centre, in order to further consolidate JD's leading position in the field of intelligent logistics and promote local development.

 

 Guangzhou, China

🔹 Case Study of Low-Altitude Logistics Innovation in Guangzhou Development Zone: Drone Delivery of College Admission Letters

According to the introduction, this use of low-altitude drones for the full delivery of college admission letters is mainly to accumulate experience in the application of drones across the entire express logistics industry chain. At each stage of mail collection, transfer, and delivery, it tests and verifies the feasibility and reliability of drone application, with the comprehensive application of automated, intelligent, and unmanned low-altitude technologies.This is just one of the cases of low-altitude logistics innovation application in Guangzhou Development Zone and Huangpu District. According to the "Typical Case Studies of Low-Altitude Economic Application Scenarios in Huangpu District" and the "Opportunity List of Low-Altitude Economic Application Scenarios in Huangpu District" published by the district, low-altitude logistics has become a focus area.Currently, Guangzhou Development Zone has carried out the commercial verification flight demonstration of the first unmanned drone logistics route, and has released a plan to open 10 efficient low-altitude logistics routes.

 

 Shanghai, China

🔹China Eastern Logistics: Shanghai-Budapest full cargo flight inaugural, 3 flights per week

On July 16th, China Cargo Airlines, a subsidiary of China Eastern Logistics, operated its first Shanghai-Budapest full cargo flight, flight number CK201. The flight departed from Shanghai Pudong International Airport and is expected to arrive at Budapest Ferenc Liszt International Airport in the afternoon of the same day. This new Shanghai-Budapest full cargo route is planned to operate 3 flights per week, with a flight time of around 12 hours. The outbound flight departs Shanghai at 05:05 and arrives in Budapest at 10:55; the return flight departs Budapest at 13:40 and arrives in Shanghai at 06:50 the next day. The inaugural flight carried 89 tons of cargo, with 80% being cross-border e-commerce goods, and the imported goods mainly consisting of auto parts and fresh produce. With the opening of this route, China Eastern Logistics' regular full cargo destinations in Europe have increased to 4, including London, Amsterdam, Frankfurt, and Budapest, with a total of 48 weekly flights in the European region.

 

 Tianjin, China

🔹Tianjin Cold Chain Logistics Industry Alliance Established

Tianjin, July 16 (Wang Shuanqi from China News Service) - On July 16, the Tianjin Cold Chain Logistics Industry (Talent) and Industry-Education Integration Alliance was established in the Sino-Singapore Tianjin Eco-City. More than 200 industry elites participated, jointly exploring the future development direction of the cold chain logistics industry, aiming to integrate resources, strengthen industry exchanges, and improve the overall level of cold chain logistics in the Jing-Jin-Ji (Beijing-Tianjin-Hebei) region.It is understood that the alliance was jointly promoted by the Sino-Singapore Tianjin Eco-City Administrative Committee and the Tianjin Dongjiang Comprehensive Bonded Zone Administrative Committee. The Sino-Singapore Tianjin Eco-City Central Fishing Port is the largest cold chain industry warehouse cluster in the Jing-Jin-Ji region, and has been approved as Tianjin's first national key cold chain logistics base. The base has currently built 600,000 tons of cold storage, forming a cold chain industry ecosystem that integrates frozen product trade, warehousing, inspection, processing, supply chain finance, e-commerce live streaming, and trading markets.

 

 

 Qingdao, China

🔹Qingdao Port International to buy oil terminal assets for $1.30 billion

Qingdao Port International said on Friday it agreed to purchase assets from Rizhao Port and Yantai Port for 9.44 billion yuan ($1.30 billion) as part of its restructuring efforts.Hong Kong-listed Qingdao Port is purchasing the entire stake in Rizhao Port Oil Terminal, a 50 per cent stake in Rizhao Shihua Crude Oil Terminal Co, a 53.9 per cent stake in Shandong United Energy Pipeline Transportation and a 51 per cent stake in Shandong Gangyuan Pipeline Logistics, on a conditional basis.

 

 Vietnam

🔹Vietnamese enterprises suffer from growing sea freight prices

Many export-import enterprises in Vietnam are struggling as ocean freight costs rise, putting significant pressure on product prices.Furthermore, the difficulty in scheduling shipping due to a shortage of containers causes delivery delays.Currently, local companies must pay more to have their products shipped sooner.It would be particularly difficult if they wanted to ship goods as early as the following week.They must book the shipping service at least one month in advance.

 

 South Korea

🔹Air Incheon to consider widebody freighter orders after Asiana cargo purchase

Air Incheon is set to become South Korea's second-biggest freight carrier after acquiring Asiana Airlines' cargo unit.Air Incheon's CEO said the company will consider both Boeing and Airbus freighters to refresh its widebody fleet.The EU competition regulator approved Air Incheon as the preferred bidder to buy Asiana's cargo business, as a condition for the merger between Asiana and Korean Air Lines.The purchase will transfer Asiana's fleet, staff, customers, and traffic rights to Air Incheon, which is based at Incheon airport - the world's 5th busiest cargo airport.Asiana currently operates 11 Boeing 767 and 747 freighters to 25 cities in 12 countries.The deal will significantly expand Air Incheon's operations and make it the second-largest freight carrier in South Korea.

 

 

 America

🔹America's freight recession is nearing its end, logistics executives say, with retail orders and rates headed higher

Data from Motive, which tracks trucking visits to North American distribution facilities for the top five retailers, shows freight volume is up 30% year-over-year in June.Reduction in trucking capacity coupled with an increase in orders has logistics executives saying that the long freight recession is finally ending and rates will increase in the back end of the third quarter.Trucking stocks including JB Hunt, Knight-Swift Transportation and Schneider National rallied over the past month, but a weak earnings report from JB Hunt on Tuesday pressured its shares again.

 

 Bangladesh

🔹Maersk Introduces SH3 ocean service between China and Bangladesh, adding capacity, flexibility and efficiency to retailers’ supply chains

Maersk has launched a new China to Bangladesh ocean freight service, called SH3, to cater to the growing trade demands between the two countries, especially in the retail sector. The SH3 service starts from Shanghai, China, and calls at Xiamen, Kaohsiung, Nansha, and Port Klang before reaching Chittagong, Bangladesh. On the return leg, it will call at Port Klang and connect with the long-haul services to Europe. The SH3 service will complement the existing SH1, SH2, and IA7 services and optimize them, further expanding the coverage in China and providing customers with more loading options and a more flexible and efficient supply chain. This new service helps accelerate the supply chain and benefits Chinese textile raw material exporters and Bangladeshi garment manufacturers. Bangladesh's textile and apparel exports to Western markets are continuously growing, driving greater demand for inbound raw material capacity to Bangladesh and outbound finished garment exports. The new service network provides greater flexibility and speed for Bangladesh's garment industry.

 

 Myanmar

🔹Discussion on Myanmar-Sri Lanka Education Cooperation

On July 11, 2024, at the Ministry of Education in Nay Pyi Taw, Dr. Zaw Myint, Deputy Minister of the Ministry of Education of Myanmar, met with Mrs. Ponnamperuma Arachchige Praba Shini Ponnamperuma, the Sri Lankan Ambassador to Myanmar. The meeting was attended by the Deputy Minister, Director General Dr. Win Thu, Deputy Directors, and relevant officials from the Ministry of Education of Myanmar. At this meeting, they discussed ways to enhance Myanmar-Sri Lanka education cooperation, support for MSME applied research cooperation, establishment of partner universities, and investment in private universities.

🔹Discussion on Strengthening Myanmar-Ethiopia Cooperation

On the morning of July 11, 2024, in Nay Pyi Taw, Chairman Min Aung Hlaing received Mr. Daba Debele Hunde, who was appointed as the Ambassador of the Embassy of Ethiopia to Myanmar. The ambassador's appointment ceremony was attended by the Chairman of the State Administration Council, Vice Chairman U Soe Win, and Union Minister U Ko Ko from the Chairman's Office.

 

Share this article :

back-to-top

top