EXTRANS GLOBAL - Weekly Logistics Operation Update - Week 05

📌Weekly Logistics Highlights:

The news highlights this week include:On the first day of the Spring Festival, 430 trade and circulation enterprises in Tianjin recorded sales of 380 million yuan, a year-on-year increase of 67.5%. FedEx has launched an operations center at the Qingdao International Port. The rapid growth of e-commerce and logistics in Ho Chi Minh City is driving economic growth in 2024...

Hong Kong, China

🔹Cathay Cargo Embraces Flexibility and Innovation Amid Global Uncertainties

Cathay Cargo is focusing on flexibility this year amid global uncertainties, while Hong Kong manufacturers remain optimistic despite a slight dip in the PMI to 51.1. The company plans to adapt quickly to changes in trade flows, emphasizing the importance of optimizing flight schedules and capacity allocation. While e-commerce continues to thrive, there is growing demand for specialized cargo solutions, which have contributed to increased freight volume and customer satisfaction. Cathay has expanded its market capacity and is exploring new opportunities, particularly in the Greater Bay Area. Overall, the outlook remains positive, with digital bookings rising and innovative services set to launch, positioning Cathay for a successful year ahead.

Shenzhen, China

🔹China's Air Cargo Soars to New Heights Amid E-commerce Boom in 2024

China's air cargo volumes reached a record high of 20.06 million tonnes in 2024, marking a nearly 20% increase from 2023, driven by the booming e-commerce market. Key airports, especially Shanghai Pudong, which handled 3.77 million tonnes, experienced significant growth, with increased routes and destinations. Guangzhou and Shenzhen also saw record cargo volumes, while United Cargo plans to introduce a new service between Los Angeles and Beijing. Overall, the capacity from mainland China grew by 25%, reflecting strong demand and recovery in both cargo and passenger traffic across major airports.

Guangzhou, China

🔹X8426 Central Europe Express Train Departs from Guangzhou International Port with 854 Tons of 'Bay Area Selected' Goods

During the Lunar New Year of the Snake in 2024, the first Central Europe Express train from the Guangdong-Hong Kong-Macao Greater Bay Area departed from Guangzhou International Port, carrying 854 tons of goods, marking a new chapter in foreign trade. As an important logistics hub, Guangzhou International Port continues to enhance international logistics service efficiency, driving the rapid growth of the Central Europe Express train, which has now operated over 4,000 times, promoting trade cooperation between the regional economy and countries along the "Belt and Road." China Railway Group plans to further optimize logistics resources and services to improve transportation efficiency and support high-quality economic development.

Shanghai, China

🔹Shanghai: Targeting a Logistics Cost-to-GDP Ratio Below 12% by 2027

On January 27, Shanghai's Development and Reform Commission unveiled plans to optimize the city's logistics and warehousing facilities by 2027, aiming to reduce the logistics cost-to-GDP ratio to below 12%. The initiative includes enhancing the network of storage facilities, increasing high-standard warehouses to over 40%, and improving the intelligence and sustainability of logistics operations, thereby strengthening supply chain stability and supporting economic growth.

Tianjin, China

🔹Tianjin: 430 Commercial Circulation Enterprises Achieve Sales of 380 Million Yuan on First Day of Spring Festival, Up 67.5% Year-on-Year

On January 29, according to "Tianjin Release," the Tianjin Spring Festival consumer market kicked off with strong sales. The 430 monitored commercial circulation enterprises achieved total sales of 380 million yuan on the first day, marking a year-on-year increase of 67.5%. The number of visitors reached 2.074 million, up 65.8% compared to the previous year. On the first day of the Spring Festival, the city's commercial venues were bustling with activity and consumer spending was vibrant. Fifty-eight shopping centers recorded sales of 149 million yuan that day, an increase of 80.6% year-on-year, with visitor numbers reaching 1.429 million, up 80.7%.

Qingdao, China

🔹FedEx Launches Qingdao International Port Operations Center, Enhancing Global Trade Efficiency

FedEx has launched its Qingdao International Port Operations Center, improving international express delivery efficiency in Shandong Province, with same-day export services to Japan now available. This facility, covering 2,000 square meters and featuring an automated sorting system, aims to enhance global trade connectivity for local customers. Additionally, FedEx will introduce a new freight route from Qingdao to Memphis via Osaka in May 2024, increasing export efficiency to North America.

Vietnam

🔹Vietnam's Seaport Companies Experience Significant Profit Growth in 2024 Amid Rising Cargo Volumes

Vietnam's seaport companies have reported significant profit increases for 2024, driven by a 14% rise in cargo volume and a 21% jump in container throughput compared to the previous year. Hai Phong Port and Vietnam Maritime Corporation (VIMC) have notably exceeded their targets, with VIMC achieving a 65% increase in pre-tax profit. Despite some challenges, the outlook for seaport stocks remains positive due to ongoing public investment in infrastructure and expected increases in cargo volume and freight rates.

South Korea

🔹South Korean Seaports Achieve Record Container Cargo Volume in 2024 Driven by Strong U.S. Shipments

In 2024, South Korean seaports processed a record 31.73 million TEUs of container cargo, marking a 5.3% increase from the previous year, driven by strong shipments to the United States. Both export-import cargo and transshipment volumes saw growth, with exports and imports rising 2.6% and transshipment cargo increasing by 9%, attributed to improved consumer sentiment in the U.S. and higher transshipment from China.

America

🔹United Airlines Sees 17% Cargo Revenue Increase in 2024, Expands Operations for Future Growth

United Airlines reported a 17% increase in cargo revenue for 2024, totaling $1.74 billion, along with a 30% increase in Q4 cargo revenue at $521 million. The airline transported nearly 1.3 billion pounds of cargo, including significant medical and military shipments, while also expanding its cargo facility in New York/Newark. Overall operating revenue rose 6% to $57.1 billion, with net income increasing by 20% to $3.1 billion, positioning United as a leading global airline heading into 2025.

Bangladesh

🔹Bangladesh and Pakistan to Launch Direct Flights, Strengthening Economic Ties

Bangladesh's High Commissioner to Pakistan, Mohammad Iqbal Hussain, announced that direct flights between Bangladesh and Pakistan are expected to begin within months, reflecting improved relations between the two countries after years of distance. The announcement, made during a meeting with the Islamabad Chamber of Commerce and Industry, highlights a commitment to enhance economic and cultural ties, including the introduction of cargo flights and opportunities for joint ventures and trade partnerships. Both nations see significant potential for collaboration, particularly in the trade of goods, and view the launch of direct flights as a vital step in strengthening their economic relationship.

Myanmar

🔹Myanmar suspends trade from Yangon to Teknaf

The Myanmar military government has suspended cargo transportation and trade between Yangon and Teknaf due to interference from the Arakan Army, which has been preventing cargo ships from making the journey. This has led to delays and the return of shipments, including a refrigerated fish cargo. Traders are concerned about the impact on trade, and the junta's decision appears aimed at curbing the Arakan Army's influence and illegal commissions. While some shipments have resumed, the situation remains uncertain, with ongoing tensions affecting business operations.

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