1. IATA: Moderate Growth in Air Cargo Demand Maintained in September

On November 10th, the International Air Transport Association (IATA) released its monthly report on global air cargo demand for September 2023, showing a 1.9% increase, maintaining moderate growth.

Global air cargo demand, measured in freight tonne kilometers (CTKs*), increased by 1.9% compared to September 2022 (international demand increased by 1.6%).

Capacity (available cargo tonne kilometers, ACTKs) increased by 12.1% compared to September 2022 (international capacity increased by 11.0%). The increase in capacity was mainly attributed to international belly cargo capacity, which grew by 31.5% year-on-year due to airlines ramping up operations to meet the demand during the peak summer travel season in the northern hemisphere.

Source: IATA

2. First A321 Passenger-to-Freighter Aircraft Delivered in China

On November 10th, Sichuan Aircraft Maintenance Engineering Company Limited, in partnership with Sichuan SDC Aviation Technology Co., Ltd., held a delivery ceremony and signing ceremony for the first domestically converted A321-200PCF passenger-to-freighter aircraft in China. The project commenced at the end of March this year at Sichuan Maintenance and lasted for 185 days, with the modification work officially completed in mid-September, setting a record for the fastest completion time for this conversion program.

This is the first A321PCF aircraft in China to be converted using the Precision Conversions (PC) conversion program, powered by IAE's V2500 engines. SDC and Sichuan Maintenance completed the related modification work over several months and obtained the Supplemental Type Certificate (VSTC) and Certificate of Airworthiness (COA) issued by the Civil Aviation Administration of China (CAAC). After delivery to Sichuan Airlines, it will be used to operate multiple domestic and international freight routes.

Source: Aviation Micro-reading

3. Deluxe Express Signs Memorandum of Cooperation with Global Aviation Cluster Alliance China Center

On November 10th, at the Aviation Value Chain Leaders Summit held during the China International Import Expo, Mr. Ni Xiaorong, President of Deluxe Express Greater China, represented the company in signing a strategic cooperation memorandum with the Global Aviation Cluster Alliance (GACP) China Center. The aim is to jointly promote cooperation and development in the global aviation value chain, empower supply chain security, efficiency, resilience, and low-carbon transformation, and continue to support the development of China's aviation industry.

Source: Deluxe Express KuehneNagel

4. Alibaba's Cainiao Overseas Warehouses Prepare Three Times More Stock for Singles' Day

As of November 10th, the stock prepared by Cainiao in 15 overseas warehouses globally for Singles' Day has exceeded three times the peak inventory level of the same period last year. According to Qu Rengang, General Manager of Cainiao International Supply Chain Overseas Warehouse Division, auto parts, 3C electronics, and consumer electronics remain the mainstream stock categories, accounting for more than half of the total stock of Cainiao's overseas warehouses for Singles' Day. He revealed that many overseas merchants have also stocked fast-moving products in Cainiao's overseas warehouse in Spain, such as holiday decorations, stationery, and kitchenware.

Cainiao has now built and operated over 40 overseas warehouses worldwide, providing end-to-end export supply chain services for Chinese cross-border merchants.

Source: Cainiao Group

5. Chinese Sellers Dominating South Korean Cross-Border E-commerce Market with 46.4% Market Share

On November 10th, according to data from the Korea Statistics Bureau, purchases from Chinese companies accounted for nearly 50% of the total cross-border online shopping expenditure in South Korea for the first nine months of this year, far surpassing the previously dominant American companies.

The data shows that the total cross-border e-commerce spending by South Korean consumers reached 47.9 trillion Korean won (approximately $36.5 billion) in the first three quarters of this year, a year-on-year increase of 20.4%. Compared to the same period last year, it increased by 39.8 trillion Korean won.

Among them, the amount spent on cross-border purchases from Chinese companies reached 22.2 trillion Korean won, accounting for 46.4% of the total expenditure. The amount spent on cross-border purchases from American companies was 13.9 trillion Korean won, with a sales share of 29.1%. The former increased by 106% year-on-year, sharply contrasting with the latter, which decreased by 9.7%.

Source: AMZ123

6. October: Total Visits to Lazada/Shopee Sites in Southeast Asia Reach 724.3 Million

On November 10th, Similarweb, a data analytics website, released data for October 2023 regarding visits to various e-commerce platforms in Southeast Asia (desktop + mobile), totaling 724.3 million. This marks a 2.8% increase from the previous month's 704.7 million.

Specifically, Lazada sites recorded a total of 153.5 million visits, a 4% decrease from the previous month, while Shopee sites saw a total of 570.8 million visits, a 4.8% increase. It's worth noting that despite the overall uptrend in platform visits, Lazada experienced declines in Malaysia, Singapore, the Philippines, and Indonesia.

Additionally, the temporary suspension of operations at TikTok Shop in the Indonesian market last month objectively stimulated the increase in visitation data on other platforms. For instance, Tokopedia, an Indonesian e-commerce giant, reversed its declining trend since April and saw its visitation data rise to 95.5 million, a 7.4% increase from the previous month.

Source: Cross-border Southeast Asia

7. eBay Canada Upgrades Shipping Cost Calculation Feature

On November 10th, eBay Canada announced the upgrade of its shipping cost calculation feature. Sellers using eBay's Calculated Shipping feature can now display shipping discount rates to buyers in their listings.

Source: Institute of Beauty Studies

8. Herbert's Revenue Reaches $15.3 Billion in the First Three Quarters of 2023

On November 10th, Herbert released its unaudited financial report for the first three quarters of 2023. During this period, Herbert achieved operating revenue of $15.312 billion, a decrease of 46.2% year-on-year. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) amounted to $4.519 billion, a decrease of 72.9% year-on-year. The Earnings Before Interest and Taxes (EBIT) reached $2.989 billion, a decrease of 80.3% year-on-year. The net profit reached $3.425 billion, a decrease of 76.6% year-on-year.

In the third quarter of 2023 alone, Herbert achieved operating revenue of $4.465 billion, a decrease of 54.8% year-on-year, with a net profit of $293 million, a decrease of 94.4% year-on-year.

Source: Shipping Industry

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Cross-border E-commerce Logistics Bai Xiaosheng"