Hong Kong Air Cargo (HKAC) has launched a new route connecting Hong Kong and Budapest, Hungary, with two weekly flights operated by an Airbus A330-200 freighter. This expansion aims to enhance trade between the two regions and meet the growing demand from the e-commerce market. HKAC has been actively increasing its international network, having recently introduced routes to Riyadh, Liege, and London, and is planning further fleet expansion to support its growth objectives. By 2027, the airline aims to operate 15 aircraft, enhancing its capabilities in cargo transport across Central and Eastern Europe.
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EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 37
📌Weekly Logistics Highlights:
The news highlights this week include:Hong Kong Air Cargo (HKAC) has launched a new route between Hong Kong and Budapest,18th China (Shenzhen) International Logistics and Supply Chain Expo: Discovering New Opportunities and Innovations,Repeated delays plague T'way Air...
Hong Kong, China
🔹Hong Kong Air Cargo (HKAC) has launched a new route between Hong Kong and Budapest
Shenzhen, China
🔹18th China (Shenzhen) International Logistics and Supply Chain Expo: Discovering New Opportunities and Innovations
Guangzhou, China
🔹Astral Aviation Launches New Freighter Route: Connecting Asia and Africa
Astral Aviation has successfully launched its inaugural freighter flight from Guangzhou, China, to Nairobi, Kenya, with a key onward connection to Maputo, Mozambique, marking a significant step in its expansion strategy. This new route aims to enhance trade and logistics between Asia and Africa, addressing the rising demand for reliable cargo transportation and facilitating the flow of essential goods. The service will utilize a Boeing 767 Freighter, capable of transporting a diverse range of cargo, and is positioned to meet the increasing trade growth between the two regions, which has seen significant year-on-year demand surges. This expansion further solidifies Astral Aviation’s role in the global air cargo industry and its commitment to strengthening international trade networks.
Shanghai, China
🔹Shanghai Export Container Freight Index Plummets, Continuing Three-Week Decline
The latest announcement from the Shanghai Shipping Exchange shows that the Shanghai Export Container Freight Index (SCFI) dropped significantly by 236.8 points to 2726.58 points on September 6, 2024, marking the third consecutive week of decline with a decrease of 7.99%. Notably, the freight rates for the Europe and U.S. East Coast routes both fell by over 10%. With the arrival of the traditional off-season, the bottom position of freight rates still needs to be observed. Specifically, the freight rate for the Europe route fell to $3,459 per TEU, a decrease of 10.76%; the Mediterranean route dropped to $3,823, down 6.37%; the rate from the Far East to the U.S. East Coast plunged by $928 to $7,511 per FEU, a decline of 10.99%; and the U.S. West Coast route also saw a decrease of $535, bringing it down to $5,605 per FEU. Freight forwarders noted that the early end of the peak season and the provision of numerous extra ships by shipping companies have led to the decline in freight rates.
Tianjin, China
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Qingdao, China
🔹Official Launch of TIR Route Enhances China-Kyrgyzstan-Uzbekistan Logistics Corridor
On August 20, four TIR (International Road Transport System) trucks loaded with medical products departed from the Shanghai Cooperation Organization (SCO) demonstration zone in China to Tashkent, Uzbekistan, marking the official opening of the first TIR route to Uzbekistan. This development enhances the "China-Kyrgyzstan-Uzbekistan" logistics corridor.TIR, a global cross-border freight system based on UN conventions, serves as a crucial method for facilitating international cargo transportation with "one-time inspection." The SCO demonstration zone aims to establish an international hub port, leveraging multimodal transport advantages to create a comprehensive logistics ecosystem that connects Chinese companies with SCO member states and markets in the Asia-Pacific region. Key projects, including a logistics center and cross-border e-commerce facilities, are progressing to strengthen the international logistics center within the SCO demonstration area.
Vietnam
🔹Vietnam Airlines offers free transport for relief goods to storm-affected localities
Vietnam Airlines Group has announced that starting Tuesday, it will provide free transportation of relief goods on flights operated by its airlines—Vietnam Airlines, Pacific Airlines, and Vasco—to support those affected by Typhoon Yagi in northern provinces. The group will waive all related transportation fees and give priority to transporting aid to various airports, including Noi Bai and Cat Bi. This initiative is available to recognized charitable organizations, the Vietnam Fatherland Front, and local government bodies. Additionally, the group has pledged an initial donation of 300 million VND (approximately 12,160 USD) for storm victims, contributed by its employees and member units.
South Korea
🔹Repeated delays plague T'way Air
T'way Air is facing mounting criticism for frequent flight delays and insufficient compensation to passengers, attributed to its aging A330-200 aircraft. Despite efforts to expand into Europe by acquiring routes from Korean Air, the airline encountered significant setbacks, including a 21-hour delay on a flight from Paris to Incheon, with compensation offered to affected passengers being far lower than what EU regulations allow. As T'way prepares to launch additional European routes, the CEO is focusing on rebuilding customer trust and enhancing safety standards, especially in light of the airline's operating loss of 21.5 billion won in the second quarter, while aiming for growth in the second half of 2024.
America
🔹Surge of imports to US continues as possible East Coast port strike looms
In August, U.S. container cargo imports rose by 12.9% year-over-year, driven by a surge in summer volume that caused delays at major ports. Despite processing nearly 2.5 million TEUs, this volume was 3% lower than July's 26-month high, contributing to cargo backups. Anxiety is growing over a potential strike by the International Longshoremen's Association, which represents 45,000 dock workers, if a new contract is not reached by September 30, with negotiations currently stalled over wages, benefits, and automation issues.
Bangladesh
🔹Ethiopian Airlines adds Dhaka, Bangladesh to its expanding global network
Ethiopian Airlines will launch new flights to Dhaka, Bangladesh, starting November 1, 2024, with six weekly services operated by the Boeing B787 Dreamliner, enhancing passenger comfort and connectivity. This route aims to strengthen Ethiopian's presence in South Asia, facilitating connections between Bangladesh and key destinations in Africa and beyond, while contributing to the socio-economic ties between the two regions. The CEO of Ethiopian Airlines emphasized that the new service reflects the airline's commitment to comfort, safety, and expanding its network, which now includes Dhaka alongside other South Asian destinations.
Myanmar
🔹Myanmar’s Border Trade With China and Thailand Has Collapsed
The Institute for Strategy and Policy-Myanmar recently reported that ethnic armed organizations (EAOs) have gained control over key trade routes in Myanmar, significantly impacting the military's State Administration Council (SAC) and its ability to conduct overland trade with China. The report highlights a 41% decline in total overland trade with China from April to July 2024, exacerbated by ongoing civil conflict and the loss of border crossings to resistance groups. While the SAC has attempted to establish new trade routes, the effectiveness of these efforts remains uncertain, and the situation is likely to increase inflation and hardship for the population, raising questions about the military's long-term stability amid rising discontent.
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