The Power of Logistics to Move the World!
It's the Power of extrans.
EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 44
📌Journey into Worldwide Logistics of Week 44, 2023: Navigating International Supply Chains
💙Good to know🧡
The world is currently experiencing a technological revolution facilitated by the Internet of Things (IoT).
Logistics is one of the sectors significantly impacted by IoT, with the global market size of IoT in logistics reaching $34 billion in 2019. Projections suggest that the industry will grow to a valuation of $63.7 billion by 2026, indicating a compound annual growth rate (CAGR) of approximately 12.4%.
🔹Hong Kong to set up logistics data platform connecting transport hubs to enable information sharing, improve cargo flow
☑ Hong Kong plans to set up a logistics data platform that will connect key transport hubs such as the city’s airport and commercial docks to enable a better flow of information, with a minister saying “all essential data” will ultimately be shared on a daily basis with stakeholders across the border.
☑ But a concern group on Monday pointed to the lack of readily available land for the development of the city’s logistics industry and predicted dozens of firms would close down in Hong Kong and shift their business to mainland China.
Source: South China Morning Post
Shenzhen, China
🔹Shenzhen presents its “blue economy” card to the world
☑ On October 31, a media delegation participating in the "Explore Guangdong along coastline" event arrived in Shenzhen, the economic powerhouse of Guangdong province, gaining in-depth insights into the city's expanding and thriving marine businesses. The city boasts a coastline of 260 kilometers and 51 islands and has geographical advantages bordering Hong Kong and Macao.
☑ Located in Nanshan District, the Shenzhen Shekou Cruise Homeport is the largest modern international cruise homeport and the first port with international transit functions in China. It runs direct ferry connections from Shenzhen to destinations across the Pearl River Delta, and has opened multiple cruise routes that cover countries and regions.
Source: GD TODAY
🔹Guangzhou Baiyun Airport welcomes a new round of international cargo routes
☑ Guangzhou Baiyun Airport welcomes a new round of international cargo routes. Air China Cargo and YTO Airlines launched the "Guanzhou-Madrid" cargo route.
☑ Continental Airlines will also launch the Leipzig-Guenzhou-Cincinnati cargo route on November 8. After November 11, the airport's four new regular cargo navigation points and 2 international cargo flights per week are expected to provide more than 4,16 tons of air transport capacity per week.
Source: Teller Report
🔹Shanghai set to break 40 million TEU mark again this year and other Chinese ports performing well
☑ The Port of Shanghai volume increased 4.7 percent in September, year on year to four million TEU’s and in the first nine months of this year, having handled a total of 36.1 million TEU, inching closer to last year’s 43 million TEU all-time record.
☑ The Port of Qingdao also recorded a strong performance witnessing a 12.1 per cent year-on-year increase, totaling 2.4 million TEU in September.
Source: Cargonow
🔹Economic Watch: BRI boosts foreign trade of China's port city
☑ About 28.5 tonnes of resin, produced by a new materials manufacturer, recently embarked on a journey from the northern Chinese port city of Tianjin to Thailand, where these goods can enjoy preferential tariffs under the China-ASEAN free trade agreement.
☑ From 2013 to 2022, Tianjin's total foreign trade with Belt and Road partners reached 3.09 trillion yuan (about 430.5 billion U.S. dollars), accounting for more than 40 percent of the city's trade in the period, according to data from Tianjin Customs.
Source: Xinhua
Qingdao, China
🔹Smart logistics infrastructure underpins huge shipment flows for Double 11 sales
☑ Chinese logistics companies are firing on all cylinders amid the ongoing Double 11 sales festival, the world's largest shopping carnival.
☑ China Railway Express Co, the express delivery arm of China State Railway Group Co, rolled out an express delivery service that guarantees a parcel can be transported between major Chinese cities and delivered door-to-door in just four hours.
☑ During a 20-day period that started on Wednesday, a total of 1,350 bullet trains with cargo loading capacity will be used to carry e-commerce goods, according to a press release the company sent to the Global Times.
Source: Global Times
Vietnam
🔹Hanoi modernises logistics industry
☑ The capital city of Hanoi has been carrying out measures to become a logistic hub in Vietnam and Southeast Asia.
☑ Located in the heart of the northern key economic region, having quite systematic transport connectivity with road, sea, waterway, railway and air transportation, Hanoi has great potential to develop logistic services.
☑ Deputy Director of the city’s Department of Industry and Trade Nguyen The Hiep said that about 25,000 local logistic enterprises are operating in the city. However, they just meet 25% of the domestic demand and handle 18% of import-export goods. The remaining shares belong to those with foreign investment.
Source: Vietnam plus
🔹MSC Air Cargo to add South Korea-US flights
☑ Recently-launched MSC Air Cargo has added a new service between Incheon International and Indianapolis in the US as it continues to roll out operations.
☑ The service will operate twice per week on one of the company’s B777-200Fs operated under an ACMI agreement with Atlas Air.
Source: Air Cargo News
🔹Venture Capital Cools on Supply-Chain Tech Startups
☑ Venture-capital firms that once provided supply-chain technology startups with hefty backing at gaudy valuations have been tightening their pursestrings this year, pushing some of the businesses to slash costs, cut staff and look for other ways to survive in a weak freight market.
☑ Thinning investor support contributed to the collapse of digital freight startup Convoy, which ceased operations in October just 18 months after topping out at a $3.8 billion valuation.
Source: Wall Street Journal
🔹South Asia should build a proper economic corridor
☑ South Asia should put emphasis on building a proper economic corridor with the efficient utilisation of its port infrastructure to gain the benefits of multi-modal transport in cross-border logistics, according to experts.
☑ Road connectivity and other necessary infrastructure has been built along the Bangladesh-India border but neither side is enjoying the benefit for technical issues, such as inefficiencies in port handling and customs," said Selim Raihan, a professor of economics at the University of Dhaka..
Source: Daily Star
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