EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 33

📌Weekly Logistics Highlights:

The news highlights this week include:Hong Kong Air Cargo signs MoU with ZTO Express,Shenzhen's Grew Nearly 30% in First 7 Months,Myanmar earns $1.7B from agricultural exports in first four months of financial year.

 Hong Kong, China

🔹Hong Kong Air Cargo signs MoU with ZTO Express

 Shenzhen, China

🔹Shenzhen's Imports and Exports Hit New Highs, Grew Nearly 30% in First 7 Months

Shenzhen News, August 16, 2024 (Shenzhen Business Daily reporter Dong Fangfang) - According to the latest customs statistics, in the first 7 months of this year, Shenzhen's imports and exports reached 2.59 trillion yuan, a year-on-year (same below) increase of 29.6%, setting a new high for the same period in Shenzhen's history, ranking first among cities in mainland China, accounting for 10.4% of the national total and 50.2% of the provincial total. Among them, exports reached 1.65 trillion yuan, an increase of 32.1%, also a historical high for the same period, ranking first among mainland cities; imports reached 940.5 billion yuan, an increase of 25.5%. In July, Shenzhen's imports and exports reached 392.73 billion yuan, an increase of 19.3%. Among them, exports reached 244.66 billion yuan, an increase of 18.5%; imports reached 148.07 billion yuan, an increase of 20.7%. The data on Shenzhen's imports and exports in the first 7 months showed five highlights: 1. Private enterprises accounted for more than 70%, and their growth rate was faster than the overall; 2. General trade and bonded logistics both showed double-digit growth; 3. Imports and exports with the top 10 trading partners maintained double-digit growth; 4. In terms of exports, electromechanical products accounted for more than 60%, and the export growth of labor-intensive products was significantly; 5. In terms of imports, electromechanical products accounted for more than 70%, and the imports of automatic data processing equipment and parts, semiconductor manufacturing equipment and other commodities doubled.

 Guangzhou, China

🔹The China-Europe Railway service operated from the Guangzhou International Port has exceeded 1,000 train trips

The Guangzhou International Port has reached a milestone of over 1,000 China-Europe freight train trips, with Guangdong-made electromechanical products gaining strong competitiveness in Europe and Central Asia through this efficient and reliable rail logistics channel. The Guangzhou Customs has supported the operation of specialized China-Europe trains to further improve trade quality, with the port currently running 16 regular routes connecting over 20 countries and 40 cities and serving over 4,000 foreign trade companies.

 Shanghai, China

🔹The 2nd Shanghai International Port Logistics and Intermodal (Shanghai) Exhibition will open on August 21

The 2nd Shanghai International Port Logistics and Intermodal (Shanghai) Exhibition (ISL Expo 2024) will be held from August 21-23 at the Shanghai New International Expo Centre. This exhibition is jointly organized by China Shipping Weekly, the Logistics Branch of China Communications and Transportation Association, the Express Logistics Branch of China Communications and Transportation Association, and the Shanghai Shipping 50 Development Research Center. This exhibition is dedicated to creating the "exhibition with the largest number of foreign trade cargo owner logistics managers", and is expected to attract over 20,000 professional visitors, including more than 2,500 foreign trade cargo owner buyers. Concurrently, the organizers will cooperate with various professional associations to hold 10 cargo owner forums, including export logistics forums for 8 major industries such as solar photovoltaics, home appliances, construction machinery, automobiles and parts, cross-border e-commerce, furniture, tires, and steel products, as well as 2 import logistics forums for wood and cold chain, to build a communication bridge between shippers and carriers.

 Tianjin, China

🔹Roasted nut hub in Tianjin sees cracking exports

 Qingdao, China

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 Vietnam

🔹Vietnamese seaports to handle over 1 bln tonnes of cargo by 2030

Vietnamese seaports are expected to handle between 1.2 billion and 1.4 billion tonnes of cargo by 2030, according to a plan to develop seaport groups, wharfs, jetties, buoy berths, and water areas in 2021-2030, with a vision to 2050.Passenger traffic through seaports is projected to reach between 17 and 19 million by 2030, encompassing both international and domestic passengers.By then, a total land area of 33,800 hectares will be required, which includes seaport development zones, the international transshipment port in Can Gio, and related industrial and logistics areas. Of this, 17,300 hectares will be specifically allocated for seaports.Additionally, the demand for water surface area will exceed 600,000 hectares.

 South Korea

🔹Asiana Airlines achieved its highest sales ever as of the second quarter of this year

Asiana Airlines announced on the 14th that it recorded an operating loss of 31.2 billion won in the second quarter of this year on a separate basis. Sales rose 10.6% year-on-year to KRW 1.7355 trillion during the same period. This is the largest sales in two quarters ever.Net loss for the current period was 149.2 billion won, compared to the same period last year (1.8 billion won).Asiana Airlines posted a deficit for two consecutive quarters following the first quarter.Asiana Airlines analyzed that the deficit in the second quarter of this year was affected by ▲increased fuel costs due to rising oil prices ▲increased temporary labor costs ▲increased business volume and increased maintenance and operation costs due to rising exchange rates.

 America

🔹U.S. air freight has no off-season, calling for another price hike in September

The U.S. air freight market has no off-season this year, with freight forwarders reporting strong and sustained demand from e-commerce and tech product shipments. Capacity remains tight, leading to record-high freight rates that are expected to rise further in September as retailers gear up for the peak holiday season. Chinese e-commerce giants are aggressively booking cargo space to meet their surging shipping needs, further tightening the air cargo capacity crunch.

 Bangladesh

🔹Bangladesh’s Exporting Networks Are Slowly Returning to Normal

Shipping and logistics companies in Bangladesh are slowly restoring services to networks fractured during violent protests and political upheaval that rocked the country and its apparel exporting sector.Containers have stacked up at the South Asian nation’s main port, vessels have backed up at the gateway and airfreight shipments have been pushed back by several days, according to Everstream Analytics, a global risk management firm.The Port of Chittagong, the largest seaport in Bangladesh, was moving about 2,300 containers measured in 20-foot equivalent units daily as of Aug. 8, far below its typical capacity of 4,000 containers, Everstream said.The port had more than 44,000 containers in its yard, compared with the 30,000 to 32,000 containers it normally stores. The average waiting time for vessels looking to unload at the port rose to nearly three days at the start of August from about 1 ½ days as of mid-July, according to Everstream.

 Myanmar

🔹Myanmar earns $1.7B from agricultural exports in first four months of financial year

According to the Myanmar Ministry of Commerce, the country earned $1.723 billion from agricultural exports in the first four months of the 2023-24 fiscal year, with beans and pulses accounting for 33% of total agricultural production. Myanmar also exported a variety of other products, including forestry, livestock, aquaculture, mining, and industrial goods, generating over $1.99 billion in total exports during this period.

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