**SF Airlines Launches New International Scheduled Cargo Route**

On May 29, it was reported that an SF Airlines B757-200 freighter took off from Guiyang Longdongbao International Airport, heading to Karachi, Pakistan’s largest city, marking the official launch of the "Guiyang=Karachi" international scheduled cargo route. This is SF Airlines' first international route from Guizhou Province.

The "Guiyang=Karachi" route is scheduled to depart from Guiyang with cargo every Tuesday, Thursday, and Friday morning, quickly unloading and loading in Karachi, and returning to Guiyang the same night. With three flights per week, this route is expected to provide over 150 tons of air cargo capacity between Guiyang and Karachi. Since 2022, SF Airlines has launched international cargo routes from Chengdu and Ezhou to Lahore, Pakistan. The opening of the "Guiyang=Karachi" route will further enhance the cargo routes directly from China to Pakistan, promoting trade exchanges between China and Pakistan.

Source: Fengcai Yiyi

**SF Holding Completes 8 Billion Yuan Bond Issuance**

On May 29, it was announced that SF Holding had received notification from its controlling shareholder, Shenzhen Mingde Holding Development Co., Ltd., that Mingde Holding completed a private bond issuance on May 23, 2024. After deducting issuance expenses, the funds raised will mainly be used to repay the "21 Mingde EB" bonds.

The current bond is an exchangeable corporate bond. Mingde Holding has pledged some of its company shares as collateral for the bond and has completed the pledge registration procedures according to the law. The bond, referred to as "24 Mingde EB," has the bond code "117223," with an actual issuance size of 8 billion yuan, a term of three years, and a coupon rate of 2.9%. The bond's conversion period begins on the first trading day after six months from the end of issuance and ends five trading days before the bond delisting date.

Source: SF Holding

**Yida Cloud Group Successfully Listed on HKEX**

On May 29, it was reported that Yida Cloud Group Holdings Limited was listed on the Hong Kong Stock Exchange on the morning of May 28, with an issuance price of HK$2.28 per share, issuing 97.625 million shares, and raising a total of HK$223 million. The Hong Kong public offering was oversubscribed by 103.44 times, and the stock price rose by 41.23% at the opening on the listing day. EDA Chairman Liu Yong, HKEX CEO Nicolas Aguzin, Shenzhen Qianhai leaders, China Liansu Group Chairman Huang Lianxi, and Rui Kai Group China President Liu Haoran witnessed the listing ceremony.

EDA Group adopts the overseas warehouse model, providing cross-border logistics, overseas warehousing, and delivery services. The group offered approximately 97.32 million shares globally from May 20 to May 25, 2024. According to the prospectus, the net proceeds from the IPO are approximately HK$203 million: about 62% will enhance the company's global logistics network, including establishing three self-operated overseas warehouses, approximately 15 franchise warehouses, and two domestic warehouses; 16% will be used to upgrade the Yida Cloud platform; 16% will strengthen the group’s market share through strategic acquisitions; and 6% will be used as general operating funds.

Source: Snowball

**Shopee's Parent Company Investigated by Indonesian Authorities**

On May 29, it was reported that Indonesian antitrust authorities are investigating Southeast Asian e-commerce giant Sea over allegations of unfairly prioritizing its own delivery services. Indonesian antitrust watchdogs stated that online shoppers in Indonesia should have the choice of which company delivers their purchased goods, but Sea's e-commerce platform Shopee uses an algorithm that prioritizes its own delivery service over other options, including local competitors. Shopee's legal team attended the hearing and will respond in a follow-up hearing on June 11.

Source: Bloomberg

**AliExpress "Global Five-Day Delivery" Expands to Ten Countries**

On May 29, it was reported that as of April this year, Choice orders, mainly fully managed and semi-managed, accounted for over 70% of AliExpress's overall orders. The "Global Five-Day Delivery" service, in cooperation with Cainiao, has expanded to ten countries.

According to Alibaba Group’s financial report, as of the quarter ending March 31, AliExpress continued to achieve strong year-over-year order growth. The synergy between AliExpress and Cainiao's cross-border logistics operations has further enhanced AliExpress's competitiveness, with both five-day and ten-day delivery rates doubling year-over-year. Recently, AliExpress signed football star David Beckham as a global ambassador. This is another significant move following AliExpress becoming the official partner of UEFA EURO 2024 in March.

Source: Xinhua Finance

**AliExpress "Super Boom Day" Officially Launched**

On May 29, it was announced that AliExpress’s key project for 2024, "Super Boom Day," has been fully launched and is open to all fully managed sellers. During Super Boom Day, the exposure of selected products can surge up to six times compared to regular days. It is reported that in the past few months of trials, 60,000 products have seen a 200% increase in sales due to participation in Super Boom Day. In addition to AliExpress, products can also be sold simultaneously on multiple platforms such as Lazada and Daraz.

Source: 36Kr

**Huakai Yibai to Focus on Latin American Overseas Warehouses**

On May 29, it was reported that Huakai Yibai stated the company’s cross-border export e-commerce business adopts a coordinated development model of domestic and overseas warehouses. Currently, its overseas warehouse operations in the United States are functioning normally. In 2024, the company plans to focus on expanding its overseas warehouse business in Latin America, including Mexico.

Source: Daily Economic News

**Shenzhen’s Cross-Border E-Commerce Import and Export Value Increased by Over 95% in Q1**

On May 29, it was reported that in the first quarter of this year, Shenzhen’s cross-border e-commerce import and export value exceeded 110 billion yuan, an increase of over 95%, reaching a record high for the same period. In Fuyong Subdistrict of Shenzhen’s Bao'an District, where Fuwei Village is located, the number of logistics companies grew from more than 3,800 in 2023 to over 4,300. This area is often referred to as Shenzhen's "International Logistics Village." In the logistics companies' workshops, production lines operate 24/7, with most goods being shipped out of Shenzhen ports within a day.

Source: CCTV Finance

**Significant Increase in Freight Rates on Multiple Routes**

On May 29, it was reported that since March this year, the container prices on the China-to-Brazil route have significantly increased by 4 to 6 times. This increase is mainly due to two factors: the United States raising tariffs on Chinese electric vehicles, prompting Chinese car manufacturers to export EVs to Mexico and Brazil, and Brazil also beginning to impose tariffs on Chinese electric vehicles.

According to a report from the Shanghai Shipping Exchange, on May 24, the freight rate for the Shanghai to South America route reached $7,065/TEU, up 5.7% from the previous period, with a cumulative increase of about 177% since March 22.

Source: Cross-Border E-Commerce Logistics Baixiaosheng

**Maersk Imposes Peak Season Surcharge (PSS)**

On May 29, it was announced that Maersk will impose a peak season surcharge (PSS) on dry and refrigerated containers departing from Chinese ports to Bangladesh starting June 10. The surcharge will be $500 for all 20-foot dry and refrigerated containers and $900 for all 40-foot dry, refrigerated containers, and 45-foot HQ containers departing from Dalian, Qingdao, Tianjin Xingang, and Lianyungang. For other Chinese ports, the corresponding surcharges will be $300 and $600, respectively.

Additionally, starting June 6, Maersk will impose a PSS of $400 for all container types on dry and refrigerated containers departing from East China ports (Shanghai, Ningbo, Xiamen, Fuzhou, and the Yangtze River Delta region) to Sihanoukville.

Source: Maersk

**Hapag-Lloyd Imposes South Africa Peak Season Surcharge (PSS)**

On May 29, it was announced that Hapag-Lloyd will impose a peak season surcharge (PSS) of $1,000 on all container types from Asia and Oceania to South Africa starting June 6, 2024, until further notice.

Hapag-Lloyd also updated the PSS for multiple African destinations, effective June 1, 2024, with a surcharge of $1,000 for all container types until further notice.

Source: Hapag-Lloyd

**Nationwide Ports Handled 1.46 Billion Tons of Cargo in April**

On May 29, it was reported that the Ministry of Transport released the economic operation data for April. Nationwide ports handled 1.46 billion tons of cargo in April, a year-on-year increase of 2.7%, with domestic and foreign trade throughput increasing by 0.5% and 8.1%, respectively. Container throughput reached 27.31 million TEUs, a year-on-year increase of 6.3%.

From January to April, nationwide ports handled 5.55 billion tons of cargo, a year-on-year increase of 5.2%, with domestic and foreign trade throughput increasing by 3.5% and 9.1%, respectively. Container throughput reached 104.03 million TEUs, a year-on-year increase of 9.0%.

Source: Ministry of Transport

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Cross-Border E-Commerce Logistics Baixiaosheng