The Power of Logistics to Move the World!
It's the Power of extrans.
EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 47
๐Global Logistics Highlights: Air Traffic Recovery, Rail-Sea Intermodal Success, Autonomous Truck Testing, Freight Index Surges, and Strategic Shipping Moves
๐Good to know๐งก
The concept of "just-in-time" (JIT) inventory management, pioneered by Toyota in the 1970s, revolutionized logistics by minimizing inventory holding costs. JIT focuses on producing goods at the exact time they are needed in the production process, reducing the need for large warehouses and excessive stockpiles. This approach aims to enhance efficiency, reduce waste, and optimize resource utilization throughout the supply chain.
๐นFinancial Secretary Paul Chan anticipates a complete recovery in Hong Kong air traffic next year, with levels reaching 80% of pre-pandemic figures by year-end. In September, Hong Kong
โ International Airport (HKIA) managed 3.3 million passengers and 24,190 flights, as reported by the Airport Authority Hong Kong.
โ CX, the flagship carrier in Hong Kong expects to achieve an overall year-end consolidated profit, according to the chief financial officer.
Shenzhen, China
๐นThe inaugural rail-sea intermodal freight train, carrying 35 containers bound for America, Mexico, and Jamaica, departed from Foshan Guanyao logistics hub to Shenzhen’s Yantian Port and Guangzhou’s Nansha Port.
โ Valued at over 8 million RMB, the cargo comprises locally manufactured electrical appliances, furniture, light decorations, and other goods, marking the successful initiation of a new logistics channel for foreign trade enterprises in Foshan.
๐นPony.ai has secured a license to test Level 4 autonomous truck platooning on open roads in Guangzhou
โ a significant stride toward establishing a large-scale logistics transportation business using self-driving vehicles. Pony.ai's self-driving trucks have covered a test mileage exceeding 3 million kilometers.
โ With a commercial operation mileage surpassing 610,000 kilometers and a total cargo weight approaching 40,000 tonnes. The company aims to provide self-driving logistics and freight services across China, enabling autonomous trucks to navigate diverse roads and weather conditions.
๐นThe Shanghai Shipping Exchange (SSE) reported a 2.4% weekly increase in China's coastal bulk freight index, reaching 1,063.16. The coal sub-index also rose by 2.8% to 1,065.79.
๐นTianjin Port exemplifies China's shipping industry, marked by innovation and enhanced efficiency, actively contributing to global industrial chains and fostering economic growth.
Qingdao, China
๐นChina's pilot free trade zones are intensifying efforts to optimize multimodal transport, fostering institutional innovation and facilitating foreign trade
โ These endeavors align with international economic and trade rules, fostering a new dual-circulation development pattern emphasizing the domestic market while reinforcing collaboration between domestic and foreign markets.
Vietnam
๐นStriving to become a national logistics hub Hai Phong continues investment in port facilities
โ Hแบฃi Phòng aims to compete with foreign businesses by providing high-quality seaport services.
โ The northern port city seeks to enhance cooperation with the Port Authority of New York and New Jersey, positioning itself as a pivotal connection point between the Atlantic and Pacific Oceans.
๐นBidding of HMM continues as tendors finalize between two parties
โ Dongwon Group and Harim Group are the final contenders in the bid to control South Korea's flagship container shipping line, HMM, as LX International decides not to participate in the bidding process.
๐นCross Atlantic Shipments continue to scale upwards
โ Over the past three months, the market share of containerized imports from Asia to the Ports of Los Angeles and Long Beach has risen from 42% to 46%. The ports are scaling up operations to meet the growing demand.
๐นThe Latest Logistics Growth Trends in Bangladesh Indicate Exponential Growth
โ A study presented at an American Chamber of Commerce in Bangladesh (AMCHAM) session suggests that efficient logistics alone could boost Bangladesh's exports by 20%. The freight forwarding sector, considered the invisible backbone of Bangladesh's economy, is projected to exceed $90 billion by 2025.
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