The Power of Logistics to Move the World!
It's the Power of extrans.
EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 42
📌Logistics Insight: News Highlights and Market Trends
💙Good to know🧡
Do you know which region has the freest economy?
In the 2023 Index of Economic Freedom, Singapore emerged as the frontrunner, securing an impressive index score of 83.9 out of 100.
Hong Kong, previously in the lead, slipped to the second position, while Switzerland, New Zealand, and the U.S. rounded out the top five rankings.
The recent decline of Hong Kong serves as an example of the strong correlation between economic freedom and civil and political liberties.
🔹Logistics firm gears for peak seasons
☑ JD Logistics (2618) said it will adjust the number of delivery centers and employees in Hong Kong according to demand, and prioritize hiring local residents.
☑ The logistic unit of JD.com (9618) will also hire more riders to expand its team in Hong Kong and Macau with over 100 employees, to meet the upcoming peak sales seasons of Singles Day and Christmas.
☑ The enhanced delivery network will offer faster intra-city express delivery in Hong Kong and Macau
Source: The Standard
Shenzhen, China
🔹SF Airlines further expands its fleet
☑ Chinese cargo airline SF Airlines has expanded its fleet to 85 freighters.
☑ Headquartered in Shenzhen, SF Airlines is the aviation branch of China’s courier enterprise SF Express. Its air cargo service network covers Asia, Europe and North America.
☑ In July, SF Airlines launched a twice-weekly service from Ezhou Huahu to Frankfurt using a 747-400 freighter, to join its first European service from the cargo airport, which calls at Liege.
Source: aircargo news
🔹GCC states, China to further cement economic, trade ties
☑ In a bid to strengthen economic and trade ties, a recent ministerial meeting in Guangzhou paved the way for increased joint investment and collaboration between the Gulf countries and China.
☑ In a final communique issued on Sunday, the conferrers urged entrepreneurs from these regions to embark on reciprocal visits. These trips aim to stimulate joint investment and foster partnerships among small and medium-sized enterprises in trade, investment, industrial communication, and innovation, according to the Saudi Press Agency.
Source: ARAB NEWS
🔹Shanghai all in for new-type infrastructure
☑ Shanghai will advance construction of new-type infrastructure to help accelerate its digital transformation and further elevate its core competitiveness, according to a three-year action plan (2023-26) released by the municipal government on Thursday.
☑ By the end of 2026, a new-type infrastructure framework should be built in Shanghai as new technologies such as artificial intelligence, blockchain, 5G and digital twins should be more extensively integrated into the city, according to the plan.
Source: China Daily
🔹Gohar conducts successful meetings with Chinese Business leaders
☑ Dr. Gohar also urged the COFCO to establish a Joint Working Group between the COFCO, Pakistani Businessmen and the Ministry of Commerce. Dr Ejaz met with several other prominent Chinese enterprises and organizations, including Shandong Xinxu Group, ADM Group, China National Agriculture Development, China National Fisheries Corp, Tianjin Meat Association, and CNAGS.
☑ These discussions explored collaboration in various sectors, such as mining, trade, hospitality, construction, EV infrastructure, agriculture, and rice sourcing.
Source: Dunya News
Qingdao, China
🔹PNG's Petroleum Parks Holdings to partner with Chinese Ports Conglomerate
☑ The China Merchants Port Holdings Company Limited is a well-established conglomerate based in Hong Kong. It is involved in a range of businesses such as port operations, general and bulk cargo transportation, container and shipping business, air cargo, logistics park operations and paint products.
☑ It is one of the companies listed as a Red Chip Company at the Hong Kong Stock Exchange listing. CMPHCL has port facilities in Mainland China and Hong Kong, such as Shangai, Tianjin and Qingdao.
Source: Papua New Guinea Today
Vietnam
🔹Vietnam needs to reduce logistics costs to increase competitiveness
☑ Lowering logistics costs to reduce product costs and increase competitiveness is an important target set by the Vietnamese government, ministries, sectors and localities, according to the agency.
☑ According to the World Bank, Vietnam currently ranks 64 out of 160 countries in terms of logistics development and ranks fourth in the ASEAN. The annual growth rate of the Vietnam's logistic sector reaches 14-16 percent, with a scale of 40-42 billion U.S. dollars per year.
Source: Xinhua
🔹Sell everything that is profitable"... Amidst the competition for the acquisition of HMM, the only domestic shipping company, between Harim, JKL Partners, Dongwon Industries, and LX International, all three companies are making concerted efforts to secure funds.
☑ According to the shipping industry on the 19th, institutions such as the Industrial Bank of Korea and the Korea Maritime Promotion Corporation, who are in charge of selling HMM, plan to select a preferred negotiating partner next month, proceed with the main bidding, and finalize the sale within this year.
☑ The estimated selling price of HMM is currently expected to be around 5 to 7 trillion won. However, all three companies involved in the acquisition battle are facing a shortage of cash assets. Currently, LX Group has 2.5 trillion won in cash assets, Harim Group has 1.6 trillion won, and Dongwon Industries has 500 billion won.
Source: Daily Impact
🔹Digital Startup Convoy Is Winding Down Its Freight Business
☑ Digital freight startup Convoy, a business founded by former Amazon.com executives that has drawn a star-studded lineup of tech investors, has suspended operations and is winding down its core business as it seeks alternatives that may include selling its technology, according to people familiar with the matter.
☑ Convoy, which raised $260 million in a funding round last year that valued the business at $3.8 billion, on Wednesday told employees in an email that it would stop accepting shipments until further notice and that it was rescheduling or canceling existing loads.
Source: Wall Street Journal
🔹Empowering small retailers: Unleashing Bangladesh's retail revolution
☑ In recent times, Bangladesh has grappled with a steep surge in food and commodity prices, sending shockwaves through households and the national economy. This price hike can be attributed to a complex web of factors, including global market dynamics and inefficiencies within our own distribution model.
☑ While international commodity prices have fluctuated, local prices have experienced less mobility, signifying a discrepancy between production and consumption points. Various global events have contributed to this phenomenon, including geopolitical tensions such as the Russia-Ukraine conflict, as well as disruptions in the supply chain due to the lingering impacts of the COVID-19 pandemic.
Source: The Business Standard
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