EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 31

📌Weekly Logistics Highlights:

The news highlights this week include:Hong Kong and Laos sign 12 MOUs to further boost ties,Beijiang River Port opens in Guangdong,Vietnam moves toward greening logistics industry...

Hong Kong, China

🔹Hong Kong, Laos sign 12 MOUs to further boost ties

During Chief Executive John Lee's visit to Laos, Hong Kong and Laos signed 12 MOUs to boost cooperation in areas like trade, investment, customs, education, logistics, and air services. Lee said there is huge potential for further enhancing ties, with Hong Kong serving as an ideal platform for Lao companies to access the Greater Bay Area. Laos also supported Hong Kong's bid to join the RCEP. Lee met Lao leaders, visited a school, and announced scholarships for Lao students to study in Hong Kong, which has also relaxed visa policies to attract Lao talent.

Shenzhen, China

🔹SF Airlines launches new cargo route to Singapore

SF Airlines has launched a new international cargo route connecting Shenzhen and Sanya in southern China with Singapore. The weekly round-trip flights on this route will provide around 100 tons of air cargo capacity. This new route serves to connect China's Greater Bay Area and Hainan Free Trade Port with Singapore, allowing exported goods from across China to be transported to Singapore and imported goods to be brought to the popular tourist destination of Sanya.

Guangzhou, China

🔹Beijiang River Port opens in Guangdong

A new inland river port opened along the Beijiang River in Shaoguan, Guangdong, becoming the largest comprehensive inland port in the province. The new port, part of the Guangzhou Port Group's strategic plans, aims to provide high-quality logistics services to surrounding industrial areas, reduce transportation costs, and enhance connectivity between northern Guangdong's inland regions and the Pearl River Delta's Guangdong-Hong Kong-Macao Greater Bay Area.

Shanghai, China

🔹Shanghai plans low-altitude inter-provincial navigable cities

Shanghai will partner with the Yangtze River Delta region to develop the first batch of low-altitude, cross-provincial navigable cities in China. The plan aims to promote the high-quality development of the low-altitude economy in Shanghai from 2024 to 2027, including building a smart logistics system, establishing a comprehensive national-level low-altitude economy demonstration area, and supporting the R&D, manufacturing, and operational services of electric vertical take-off and landing aircraft, industrial drones, and new energy general aviation aircraft.

Tianjin, China

🔹China's Smart and Sustainable Ports Drive Global Trade

Tianjin Port has transformed into the world's first intelligent zero-carbon terminal through the adoption of advanced technologies like 5G, AI, and autonomous driving. This has significantly improved the port's operating efficiency and reduced labor costs. China has been actively developing smart transport and logistics to build world-class smart and green ports, which is vital for the growth of its massive foreign trade, as 90% of it is shipped by sea. China's shipping industry is at the forefront of technological innovation and global cooperation, playing a crucial role in ensuring the stability and smooth flow of the international logistics supply chain.

Qingdao, China

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Vietnam

🔹Vietnam moves toward greening logistics industry

The Vietnamese government has set a goal of greening its economy, including the logistics sector, as part of its National Green Growth Strategy. While this shift towards sustainable, green logistics is seen as crucial for improving competitiveness and reducing emissions, the logistics industry still faces significant challenges in implementation that require supportive government policies to overcome.

South Korea

🔹Qoo10 liquidity crisis sparks massive complaints in South Korea, fears of wider damage

The liquidity crisis at South Korean online shopping platforms WeMakePrice and Tmon, both owned by Singapore-based Qoo10, has sparked massive complaints from sellers and customers over delayed and unpaid funds, raising fears of wider damage. The company's CEO has apologized and pledged efforts to secure funds to pay sellers, but challenges remain as customers continue to face difficulties in getting refunds and compensation.

America

🔹Mixed cargo revenue performance for US carriers in Q2

The major US airlines reported mixed results for their cargo business in Q2 2023. While cargo volumes increased significantly, with American Airlines seeing a 20.6% rise in cargo tonne miles, not all carriers saw a corresponding increase in cargo revenues. United Airlines was able to grow its cargo revenues by 14.4%, while American Airlines experienced a 1.3% decline. Delta also saw a 16% year-over-year increase in cargo revenues. Overall, the data reflects an improving air cargo rate environment as the year has progressed, following declines earlier in 2023.

Bangladesh

🔹Bangladeshi garment makers are facing the challenge of using costly airfreight

Bangladeshi garment makers are facing the challenge of using costly airfreight amid a surge in customer demand, as ocean transport has been hindered by government-imposed curfews. However, buyers are unwilling to cover the additional costs.Reports indicate that even customers willing to use airfreight are demanding price cuts of between 15% and 20%. The government-imposed curfews and internet blackouts have severely affected most transport services, with around 3,000 tonnes of air cargo unable to be sent.Arshad Jamal Dipu, Vice President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), stated that he had to bring back 80,000 pieces from Chittagong port depots to Dhaka.Manufacturers say that even though 40% of goods were given extra time by buyers, the buyers are still demanding that the remaining 60% be sent by air. The BGMEA has held a meeting with global apparel buyers, requesting that they do not automatically provide discounts for delayed shipments, which would reduce the exporters' earnings.

Myanmar

🔹Chongqing Hosts China-Myanmar Trade Fair, Highlighting Logistics, Food Processing

At the fair, representatives from over 10 Myanmar associations, businesses, and over 40 Chongqing companies discussed industries, including beans, rubber, food processing, edible oil, automotive, and transportation logistics.Su Su Htwe, a member of the Myanmar International Freight Forwarders’ Association, mentioned that she has secured business partners and is actively engaged in trading. She has also discussed with these partners how they can support her trading products. The standard route begins in Yangon, travels through Myawadi and Laem Chabang, and concludes in Chongqing. She observed that the fair might provide additional logistical options.

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