1. New Progress in SF Holdings' Hong Kong IPO

On June 4, it was announced that SF Holdings has received the "Notice on the Record of Overseas Issuance and Listing by SF Holdings Co., Ltd." from the China Securities Regulatory Commission (CSRC). The company plans to issue no more than 625,497,800 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange. Within 15 working days after completing the overseas issuance and listing, the company is required to report the issuance and listing status through the CSRC’s record management information system.

The announcement states that SF's application for issuing overseas listed foreign shares (H shares) and listing still requires approval from the Securities and Futures Commission of Hong Kong, the Hong Kong Stock Exchange, and other relevant government agencies, regulatory authorities, and securities exchanges. SF Holdings first submitted its listing application to the Hong Kong Stock Exchange on August 21, 2023. With this offering, SF plans to further enhance its global and cross-border capabilities, deepening coverage in existing international markets such as Southeast Asia. SF will also selectively seek strategic acquisitions, investments, and partnerships to help SF become a global logistics leader.

Source: CLS

2. TEMU Designated as a Super Large Online Platform by the EU

On June 4, the European Commission announced that the e-commerce platform TEMU, under PDD Group, must comply with stringent EU online content rules by September, following its user numbers surpassing EU thresholds. The European Commission has officially designated TEMU as a Very Large Online Platform (VLOP) under the Digital Services Act (DSA), requiring TEMU to implement measures to address issues such as "displaying and selling counterfeit goods and infringing intellectual property."

In response to the European Commission's latest decision, TEMU stated, "We are fully committed to complying with the rules and regulations of the Digital Services Act to ensure safety, transparency, and the protection of our users within the EU."

Source: E-commerce News

3. Air China Cargo’s First A330F Freighter Begins Operations

On June 4, CA1003, a flight from Chengdu Shuangliu International Airport, smoothly landed at Paris Charles de Gaulle Airport, marking the successful inaugural flight of Air China Cargo Co., Ltd.'s first A330F freighter on the "Chengdu-Paris" cargo route, officially commencing commercial operations on international routes.

The "Chengdu-Paris-Chengdu" route will operate four cargo flights per week, with outbound cargo mainly consisting of e-commerce goods and electronic products, and inbound cargo including trade goods for Chengdu, auto parts, and transshipment goods radiating nationwide from Chengdu as a hub. The opening of this route will further expand logistics channels between Asia and Europe and promote industrial collaboration between China’s western regions and Europe.

Source: Jiemian News

4. Brazilian House of Representatives Approves Tax Bill on Imported Goods Worth $50 or Less

On June 4, according to Brazil's UOL, the Brazilian House of Representatives approved a bill to tax imported goods valued at $50 or less at a rate of 20%. This bill has been included in the Innovation and Green Mobility Plan (Mover), primarily targeting low-cost items purchased by local users from Asian cross-border e-commerce platforms.

Speaker of the House Lira stated that the issue of taxing cross-border e-commerce platforms will be included in tax reform discussions to establish a fairer and clearer tax system for the entire production sector. Brazil's position is not aimed at anyone specifically but intends to support business and national industrial development and create jobs for the Brazilian people. The bill is expected to be submitted to the Senate for review soon.

Source: China Ministry of Commerce Trade News

5. TikTok Reportedly Pauses Expansion into European E-commerce Market

On June 4, it was reported that TikTok has put on hold its plans to launch a rapidly growing e-commerce business in major European markets, focusing instead on growth in the U.S. market. According to informed sources, TikTok has shelved plans to introduce its shopping platform in Spain, Germany, Italy, France, and Ireland. A TikTok spokesperson declined to comment, stating that the company always operates based on demand.

It is known that TikTok has 170 million monthly active users in the U.S. and had set new growth targets, anticipating U.S. market sales to grow tenfold to $17.5 billion this year.

Source: Bloomberg

6. Amazon MCF Supports ERP Integration for Chinese Sellers

On June 4, it was announced that Amazon Multi-Channel Fulfillment (MCF) now supports ERP integration specifically for Chinese sellers. As a logistics solution dedicated to multi-channel sales, Amazon MCF not only provides robust inventory and order management capabilities but has also been committed to working with a range of professional ERP systems to bring sellers an automated experience. Currently, MCF has expanded its ERP integration capabilities for Chinese sellers.

Source: Amazon Global Logistics

7. Shopee Tops Thailand's 50 Most Popular Consumer Brands

On June 4, it was announced that Shopee has topped the list of Thailand's 50 most popular consumer brands for 2024, with a score of 78.35, according to the Southeast Asia 50 Brands list released by Campaign360 and Milieu Insight. Among all the brands on the list, Shopee achieved the highest customer experience score (83.1%) and the best brand score (78.4%). Shopee has become the most visited retail website in Thailand.

The list surveyed well-known brands across six countries (Indonesia, Thailand, Philippines, Malaysia, Vietnam, Singapore) and ten industries, scoring them based on nine attributes, including awareness, purchasing power, quality, purchase experience, customer service, credibility, and innovation.

Source: AMZ123

8. JD Group Collaborates with Inditex

On June 4, it was announced that JD Group has entered into a strategic partnership with Inditex, one of the world's largest fashion retail groups, which owns seven brands including ZARA, Massimo Dutti, Oysho, and ZARA HOME, and operates in over 200 markets globally. During JD's 618 shopping festival, Massimo Dutti officially launched on JD.com and opened an official flagship store.

Source: JD Bulletin

9. Global Aviation Industry Net Profit to Reach $30.5 Billion This Year

On June 4, the International Air Transport Association (IATA) announced an updated outlook for the aviation industry for 2024, projecting that this year's global aviation industry net profit will reach $30.5 billion with a net profit margin of 3.1%. Total revenue is expected to hit $996 billion, up 9.7% year-on-year, setting a new record; operating profit is expected to be $59.9 billion.

Total air cargo volume is expected to reach 62 million tons. Cargo revenue is anticipated to decline from $138 billion in 2023 to $120 billion in 2024, an improvement from the previous forecast of $111 billion. Despite strong demand, cargo volume in 2024 is expected to decrease by 17.5%, slightly above 2019 levels. After a remarkable year in 2021, air cargo is currently in a consolidation phase, with key indicators like cargo volume, capacity growth, and bellyhold capacity returning to pre-pandemic trends and levels.

Source: Civil Aviation Resource Network

10. Shenzhen Airport's Annual Cargo and Mail Throughput Ranks Third Nationwide for Three Consecutive Years

On June 4, it was reported that Shenzhen Airport has promoted reforms in various aspects including security innovation, facility construction, intelligent empowerment, customs policies, process optimization, and business model upgrades. Driven by a series of innovations, Shenzhen Airport's international cargo business volume has grown by 50% over three years, and its annual cargo and mail throughput has ranked third nationwide for three consecutive years, while its international ranking has entered the global top twenty. The airport's comprehensive cargo support capability and market competitiveness have been significantly enhanced.

Source: Shenzhen Airport

11. CMA CGM Increases Sea Freight Rates in June

On June 4, CMA CGM, the world's third-largest shipping company, announced that in the second half of June, the price for shipping a 40-foot container from Asia to Northern Europe will increase from the current approximately $5,000 to $7,000; in the first half of June, the prices ranged between $6,000 and $6,500, with premium service fees between $7,500 and $10,000.

However, according to prices circulating between carriers and importers, companies shipping goods from Asia next month may need to pay up to $10,000 for an expedited full-size container, roughly double the current spot price.

Source: Global Shipping

12. Maersk Halts TP20 East Coast Service

On June 4, Maersk announced that its TP20 East Coast service will officially end in the coming weeks. To strengthen its service from Asia to the U.S. East Coast, the TP20 service was resumed on April 21 this year. However, due to the continued deterioration of the situation in the Red Sea, Maersk has decided to stop the TP20 service for route network reorganization to better adapt and meet customer needs.

The last voyage from Asia: Voyage 424E BSG Barbados ETD Shanghai June 13, 2024

The last voyage from North America: Voyage 429W BSG Barbados ETD Newark July 17, 2024

Source: Maersk

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Official Account: Cross-border E-commerce Logistics Bai xiaosheng