Hong Kong Airport (HKG) handled around 4.8 million passengers in July 2024, an increase of 24.7% year-on-year.During the month, cargo throughput was up 14.6% to 414,000 tonnes and flight movements increased to 31,100, up 29.3% when compared to July 2023.Passenger traffic maintained its growth momentum in July, as daily passenger traffic exceeded 170,000 on peak days. Cargo throughput at HKIA has continued its consecutive double-digit year-on-year growth since the beginning of the year.Export cargo remained the main growth driver, increasing by 16.8% compared to the same month in 2023. Cargo traffic to and from key trading regions in Europe, Southeast Asia and Middle East increased the most significantly in the month.For the first seven months of the year, Cargo traffic experienced a double-digit annual increase of 17.4% to about 2.8 million tonnes.On a 12-month rolling basis,Cargo throughput reported a growth of 15.7% to 4.7 million tonnes.
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EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 34
📌Weekly Logistics Highlights:
The news highlights this week include:Hong Kong Airport Reports Strong Increases in Cargo Traffic,Beijing-Tianjin-Hebei's trade hits 2.94 trillion yuan in Jan-July,Political instability since coup prompts foreign investment exit from Myanmar...
Hong Kong, China
🔹Hong Kong Airport Reports Strong Increases in Cargo Traffic
Shenzhen, China
🔹China-Europe freight train (Shenzhen) celebrates its 4th anniversary, with nearly 500,000 tons of cargo dispatched
According to Shenzhen Customs statistics, as of August 18, 2024, the China-Europe freight train (Shenzhen) has cumulatively operated 696 trains, with 34,000 railcars dispatched, and 474,000 tons of declared goods worth RMB 16.132 billion. The year-on-year growth rate of export cargo value has exceeded 20%, achieving both quantity and quality improvements.To support the rapid and stable Shenzhen's Imports and Exports Hit New Highs, Grew Nearly 30% in First 7 Months development of the China-Europe freight train, Shenzhen Customs has continued to optimize its regulatory services. They have opened green channels, implemented full-time appointment inspections, and realized immediate container arrival, inspection, and release. They have also innovated their regulatory model, combined with the needs of local specialty industries, to create premium fast freight trains, reducing transportation time by 41%. Integrating the functions of the Pinghu Logistics Center and logistics hubs, they have expanded the train's cargo sources through multimodal and multi-business approaches. They have actively applied measures such as the "Express Railway Customs Clearance" model and "Appointment Customs Clearance" to release policy dividends.
Guangzhou, China
🔹One Piece Delivery" Grabs Cross-border E-commerce Christmas Peak Season Opportunities
On August 16-18, the 2024 China (Guangdong) - RCEP Member Countries Cross-border E-commerce Exchange and China (Guangzhou) Cross-border E-commerce Trade Fair was held in Guangzhou. Despite the non-weekend opening day of the cross-border e-commerce trade fair, the venue was bustling with activity. Cross-border e-commerce platforms, cross-border payment, logistics, and foreign trade companies all had crowded booths, as the entire cross-border e-commerce industry chain was actively expanding the market and scrambling to secure global orders for the second half of the year.August is the peak season for Christmas orders in Europe and the US. Some companies that produce Christmas trees have set up "overseas warehouses" in advance, using the selling point of "shipping a single tree" to increase orders. Logistics companies have also expanded their overseas warehouse space from 3,000 square feet to 30,000 square feet, increasing manpower to prepare for the "Black Friday" and Christmas peak season in the second half of the year.
Shanghai, China
🔹The 2nd China International Port, Shipping and Multimodal Transportation (Shanghai) Expo (ISL Expo 2024) opened in Shanghai
The 2nd China International Port, Shipping and Multimodal Transportation (Shanghai) Expo (ISL Expo 2024) opened at the Shanghai New International Expo Centre. The three-day expo is themed "Gathering Port, Shipping, Rail and Air, Connecting Foreign Trade Cargo Owners", aiming to become the "expo with the largest number of foreign trade cargo owner buyers". The event is expected to attract over 20,000 professional visitors, among which more than 2,500 will be foreign trade cargo owner buyers.At the expo, the "International Supply Chain Logistics Resilience Development Initiative" was released, covering various modes of transportation, supporting the sustainable development (ESG) of logistics companies, focusing on the reasonable demands of small and medium-sized logistics and cargo owner companies, and calling for the establishment of a regular communication mechanism between cargo owners and logistics companies.
Tianjin, China
🔹Beijing-Tianjin-Hebei's trade hits 2.94 trillion yuan in Jan-July
Qingdao, China
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Vietnam
🔹Vietnam's textile-garment, logistics firms try to go green
Many Vietnamese textile and garment enterprises are intensifying efforts to turn their production processes sustainable to adhere to buyer nations’ environmental standards and regulations concerning product origin.For the textile and garment industry, key European Union (EU) regulations include the ecodesign requirements for sustainable products, waste directives and extended producer responsibility programmes.The Vietnam National Textile and Garment Group (Vinatex) is implementing carbon reduction solutions by measuring the carbon footprint across product life cycles and developing a green, circular production strategy. The group's members have reduced electricity consumption per product unit by 2 per cent compared to 2022 so far.
South Korea
🔹Pet Cargo surges in Korea
Korean carrieres successfully introduced a new business model as Koreans are willing to take their pets to the skies at a reasonable price.The country has experienced a pet-travel bloom; jeju air and korean air have seen a increased of 10.9% and 19.2% simultaneously, compared to the same time last year. In the meantime, Easter Jet will go furtehr in expanding its pet-friendly service on select international flights.
America
🔹Airfreight to the US Sees Intense Cargo Plane Battle in Q4 - Positive News for China Airlines, EVA Air, Cathay Pacific and Others
Chinese E-commerce Giant Pinduoduo's Orders Set to Explode in September, Requiring an Estimated 90 Cargo Flights per Month, but Tight Supply in the Air Cargo Market Makes it Difficult to Find Sufficient Chartered Flights - Pinduoduo Reportedly Seeking Government Assistance to Secure Mainland China's Cargo Planes, Setting the Stage for a Fierce Battle for Cargo Capacity in Q4As air freight rates are expected to rise, this will benefit domestic Chinese carriers such as China Airlines (2610), EVA Air, Cathay Pacific Cargo, Jet-Speed, Taiwan Air Cargo, and others, whose business performance is likely to see a corresponding upswing.Cathay Pacific Cargo president Qiu Junrong confirmed this development, noting that mainland Chinese e-commerce players have been seeking chartered flights in the market for some time. The addition of mainland Chinese e-commerce cargo volume has become a mainstream customer for the air cargo industry, to the extent that the US air cargo route has "almost no off-season" this year. The current rate of around $10 per kilogram (approximately NT$320) is by no means the highest point this year, and air cargo rates are expected to surge even further as the traditional peak season arrives in September.
Bangladesh
🔹Bangladesh’s garment industry determined to rebuild global confidence
Bangladesh's garment industry is working hard to recover and regain the confidence of its customers after recent political unrest. Factories have reopened, logistics operations have resumed, and freight movements have increased as the industry tries to get back on track.To mitigate the damage, factories have turned to air freight and extended working hours, but this has not been enough to prevent some order diversions. The new interim government, led by Muhammad Yunus, has made restoring law and order a priority, creating a new industrial security task force and deploying the army to guard factories.Despite these setbacks, Bangladesh's garment manufacturers are determined to regain the trust of global retailers and recover their position in the industry. The resumption of rail freight, airport, and port operations, as well as the increased truck and container movements, indicate the industry's efforts to get back on track.
Myanmar
🔹Political instability since coup prompts foreign investment exit from Myanmar
Myanmar's economy has been in freefall, contracting by nearly 20% according to the World Bank. Economic growth estimates for 2024 have been halved to just 1%, largely due to widespread conflict and mismanagement by the military junta.Investors have been fleeing Myanmar, citing reasons such as political instability, rising inflation, difficulties with bank transactions, challenges in obtaining raw materials, and insufficient manpower. Official data shows foreign investment reached only $150 million in the first seven months of 2024, a sharp drop from the $2.9 billion invested between 2021-2024 and the $3.8 billion in 2020 when the civilian National League for Democracy party was in power.High-profile companies like Singapore's Sembcorp and South Korea's CJ Feed Myanmar have reduced or suspended their operations in Myanmar due to safety concerns and the economic crisis.
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