In October 2024, Cathay Pacific carried 142,323 tonnes of cargo, marking a 14% increase compared to the same month in 2023. The cargo load factor rose to 61.5%, and the overall tonnage for the first ten months of 2024 reached 1,245,899 tonnes, up 10% year-on-year. Chief Customer and Commercial Officer Lavinia Lau noted strong demand driven by e-commerce and machinery shipments from Northeast Asia, with continued growth expected throughout the peak season, particularly for high-tech and perishable goods.
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EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 47
📌Weekly Logistics Highlights:
The news highlights this week include: Cathay Pacific Reports 14% Increase in Cargo Volume for October 2024 Amid Strong Demand,EU Confirms Compliance for Korean Air and Asiana Airlines Merger, Final Approval Still Pending,China's first used car export inspection point opens in Shanghai...
Hong Kong, China
🔹Cathay Pacific Reports 14% Increase in Cargo Volume for October 2024 Amid Strong Demand
Shenzhen, China
🔹From November 1 to 16, Shenzhen's express delivery companies processed a total of 597 million parcels. This year's "Double 11" deliveries have increased by 10%.
During the peak production season of "Double 11," Shenzhen's express delivery services have maintained stable operations, processing 597 million parcels from November 1 to 16, a 10.7% increase year-on-year. The high demand is attributed to changes in e-commerce promotions, with daily averages exceeding 37 million parcels. Notably, parcel pickup peaked on November 12 with 28.93 million items, a 14.6% increase, while delivery peaked the following day with 15.64 million parcels delivered.To meet the demands of the peak season, express delivery companies in Shenzhen have significantly bolstered their workforce, vehicle capacity, and processing facilities, adding thousands of temporary staff and new vehicles. The rise in e-commerce returns has also been notable, prompting major delivery brands to compete for this growing market. The introduction of features like "freight insurance" and "seven-day no-reason returns" has further stimulated the reverse logistics market, driving new business growth opportunities for companies."
Guangzhou, China
🔹Yong Sheng Sets Sail for China's 41st Antarctic Expedition, Supporting Infrastructure Development at Qinling Station
The cargo vessel Yong Sheng has departed from Jiangsu province for China's 41st Antarctic expedition, carrying approximately 16,000 cubic meters of construction materials for the Qinling Station. This multipurpose, ice-class vessel is part of a mission that began on November 1 and is expected to last nearly seven months, involving three ships, including research icebreakers Xuelong and Xuelong 2. The expedition aims to build infrastructure at the Qinling Station, study the effects of climate change on the Antarctic ecosystem, and foster international research collaboration.
Shanghai, China
🔹China's first used car export inspection point opens in Shanghai
China's first used car export inspection point opened at Haitong Port in Shanghai's Pudong New Area, providing one-stop services for vehicle registration and logistics for exporters. Established by Shanghai Waigaoqiao Free Trade Zone Group, this facility aims to reduce costs and risks associated with transporting exported vehicles, enhancing efficiency. Industry experts believe the center will significantly boost China's used car exports, with potential markets for electric vehicles emerging in countries like Benin and Ethiopia. In 2023, China exported 275,000 used cars valued at approximately $6.88 billion, indicating a growing sector in foreign trade.
Tianjin, China
🔹Tianjin Port Launches Sea-Rail Intermodal Service with First Shipment from Xinjiang
Qingdao, China
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Vietnam
🔹Vietnam's E-Commerce Market Set to Reach $22 Billion: Opportunities and Strategies for Growth
The e-Economy SEA 2024 report from Google, Temasek, and Bain & Company projects that Vietnam's e-commerce market will reach $22 billion this year, highlighting significant growth opportunities for domestic businesses and "Made in Vietnam" products. E-commerce accounts for over 60% of Vietnam’s digital economy and is a key growth driver alongside online tourism, with local platforms like Shopee and TikTok Shop leading the market while cross-border platforms such as Temu and Shein are emerging.At a recent workshop in Ho Chi Minh City, industry leaders discussed initiatives to empower Vietnamese businesses in e-commerce, including adopting AI, livestreaming sales, and enhancing logistics solutions. Experts emphasized the importance of aligning with global trends to improve competitiveness and urged businesses to leverage advertising, digital training, and green logistics practices to succeed in the expanding global e-commerce landscape.
South Korea
🔹EU Confirms Compliance for Korean Air and Asiana Airlines Merger, Final Approval Still Pending
The European Union has confirmed that South Korean carriers Korean Air and Asiana Airlines have fulfilled the passenger service commitments required for their merger, including the divestment of four European routes to low-cost carrier T'way Air. However, final approval for the merger is still pending as the EU assesses the sale of Asiana's cargo business to Air Incheon. Korean Air has received regulatory approvals from 12 countries and is working to secure the remaining approvals, including from the U.S. Department of Justice, amid concerns about potential monopolistic practices in the U.S. market.
America
🔹Avianca Cargo announces new brand identity
Avianca Cargo has unveiled a new brand concept aimed at enhancing its commitment to exceptional service, encapsulated in the slogan “Avianca Cargo, we are doing it for you.” This transformation positions the airline among the top six cargo carriers globally, following significant upgrades to service levels, fleet modernization, and product offerings.The airline has increased its network load factor by over 5% year-over-year, benefiting from the recovery of Latin America's cargo import market. Avianca Cargo is focused on sustainability, operating a newer, more fuel-efficient fleet, and has launched a real-time platform for clients to monitor and offset carbon emissions. The airline also expanded its fleet and network, connecting around 350 destinations and launching new services to enhance cargo connectivity. With continuous improvements in operations and innovative strategies, Avianca Cargo aims to provide faster, more reliable logistics across South America and beyond.
Bangladesh
🔹China's first used car export inspection point opens in Shanghai
A Pakistani cargo ship has successfully reached Chittagong Port in Bangladesh, marking a significant milestone in enhancing trade relations between the two countries. This development follows a long hiatus in direct maritime trade, which had previously relied on indirect routes. The arrival of the 2300 TAU vessel is seen as a promising step towards normalizing relations between Pakistan and Bangladesh, which have been strained due to past political dynamics.The Pakistan High Commission in Bangladesh and local business leaders expressed optimism that this new sea trade corridor will improve supply chain efficiency and open up new business opportunities, particularly in the textile and garment sectors. Economists predict that this reopening could significantly increase trade volumes and positively impact Pakistan's foreign exchange reserves in the coming years.
Myanmar
🔹China reopens gate on Myanmar border for trade, tightening restrictions at other gates
Chinese authorities have lifted bans on transporting trade goods through the Mant Wein gate in Muse, Shan State, while enforcing stricter embargoes at the Sin Phyu and Nantaw gates. This change allows certain freight vehicles to cross the border at the Mant Wein gate between Ruili, China, and Muse, but a complete ban is now in place for transporting goods through the other two gates, even for small quantities or non-commercial vehicles.
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