1. SF Airlines and Etihad Cargo Expand Cooperation

On June 27, it was announced that Etihad Cargo, the freight and logistics subsidiary of Etihad Airways, is expanding its partnership with China’s SF Airlines to increase flight frequency between the major hubs of Abu Dhabi and Ezhou. Starting from July 15, 2024, Etihad Cargo will operate two freighters between Abu Dhabi and Ezhou, and SF Airlines will add one freighter from Ezhou, bringing the total number of weekly flights between Abu Dhabi and Ezhou to five. The increased frequency of flights between Ezhou and Abu Dhabi, along with the opening of flights from Shenzhen to Abu Dhabi, will provide over 200 tons of capacity, bringing the total weekly available capacity for both parties to 630 tons.

In addition to the two weekly freighter flights to Ezhou, Etihad Cargo also offers five weekly flights to Beijing and Shanghai, seven weekly flights to Shanghai, two weekly flights to Guangzhou, and seven weekly flights to Hong Kong.

Source: Cross-Border E-Commerce Logistics Baixiaosheng

2. FedEx Retires Nearly 1/5 of its Boeing 757 Freighter Fleet

On June 27, FedEx announced the permanent retirement of 22 Boeing 757-200 freighters as part of a strategy to downsize its fleet to better manage a slowdown in package demand. FedEx incurred an impairment charge of $157 million due to the permanent retirement of the 757 freighters and seven engines.

Currently, FedEx operates a fleet of 92 Boeing 757-200 freighters, with 22 of these now permanently retired. With more aircraft being retired than added, FedEx's mainline fleet size has decreased from 417 aircraft in fiscal year 2022 to 389 aircraft. According to the latest statistics, FedEx plans to receive two factory-built 777 freighters from Boeing within the next 12 months and 14 B767-300 freighters over the next two years.

Source: Cross-Border E-Commerce Logistics Baixiaosheng

3. China Post Launches First Intercontinental Cargo Route

On June 27, a Boeing 777 freighter from China Post Airlines, loaded with mail and cargo, took off from Nanjing Lukou International Airport in Jiangsu and flew directly to Luxembourg Findel International Airport. This marks the official launch of China Post's first self-operated intercontinental route. The opening of the "Nanjing-Luxembourg" intercontinental route will significantly enhance China Post's capability to participate in international logistics, effectively promote China's international trade development, and demonstrate China Post's strong presence as the only central enterprise in the express logistics sector.

Source: Air Cargo News Express

4. "Henan Post E-Speed Europe Express" Officially Launched

On June 27, DPD China and Henan Post jointly launched the "Henan Post E-Speed Europe Express," marking a new development stage for cross-border e-commerce logistics in Henan. This express line uses CV flights for transportation, operating 4-6 times a week, flying directly from Zhengzhou to Luxembourg, with cargo transshipment in Luxembourg. As an important transportation hub in Europe, Luxembourg enables fast distribution of goods to major ports such as LGG, LHR, and AMS through T1 transshipment, accelerating cross-border e-commerce logistics efficiency.

Source: DPD International Express

5. FedEx Fiscal Year 2024 Revenue Reaches $87.7 Billion

On June 27, FedEx released its fourth-quarter results for fiscal year 2024, ending on May 31, 2024. The report shows fourth-quarter revenue of $22.1 billion, a slight increase of 0.9% compared to $21.9 billion in the same period last year, slightly better than analysts' expectations of $22.06 billion. Net income fell by 4% to $1.47 billion. Annual revenue decreased by 3% to $87.7 billion, while net income increased by 8.8% to $4.3 billion. FedEx stated that capital expenditures for fiscal year 2024 were $5.2 billion, down 16% from $6.2 billion in fiscal year 2023. The company forecasts adjusted earnings per share of $20 to $22 for fiscal year 2025, with ongoing cost reduction plans expected to permanently cut costs by $2.2 billion in fiscal year 2025. Capital expenditures will amount to $5.2 billion, prioritizing network optimization and efficiency improvements.

Source: Cross-Border E-Commerce Logistics Baixiaosheng

6. Singapore E-commerce Platform Qoo10 Launches Wish+

On June 27, it was announced that Singapore e-commerce platform Qoo10 has recently launched "Wish+," integrating Qoo10 with Wish.com to provide a unified e-commerce experience and expanded product inventory for global consumers. The platform offers lifestyle, fashion, beauty, and electronics products to consumers in over 200 countries and plans to introduce more international brands. Qoo10 expects Wish+ to become a major trading platform for Asian goods and North American procurement products, leveraging its extensive network in Asia and Wish.com's strong foundation in the North American market.

Source: Chuhai Net

7. Shopee Changes Its Services in Indonesia

On June 27, Shopee announced it would make changes to its services in Indonesia after the country's antitrust agency, KPPU, indicated that the platform violated antitrust rules. KPPU stated that last month Shopee was accused of anti-competitive behavior by directing customers to specific delivery services, which Shopee has acknowledged. Radynal Nataprawira, Shopee Indonesia's Public Affairs Director, said the company is committed to complying with Indonesian regulations and laws and has proposed changes to the user interface to provide the best service and align with KPPU's feedback.

Source: Chuhai Net

8. eBay Updates International Shipping Feature Settings

On June 27, eBay’s US site announced that all eBay seller accounts using the eBay International Shipping (eIS) service have introduced a new feature toggle switch. This allows eBay to ship the seller's listed items to countries or regions where the seller currently does not provide shipping services.

eBay has turned on the new feature switch for some sellers using the eIS service, regardless of whether the country/region was previously excluded. Sellers can choose to turn this feature off at any time.

Source: eBay US Site

9. Temu Rapidly Grows in Australian Online Retail Market

On June 27, it was reported that Temu saw a significant increase in online customer numbers in Australia in May, surpassing local retailers like Coles, Flybuys, and Bunnings. Ipsos iris data shows that in May, nearly 21.1 million Australians aged 14 and older visited retail websites or apps, with Amazon, Apple, and Woolworths being the busiest online retailers.

As the fifth most popular online retailer, Temu had the highest year-on-year customer growth rate of 39.7%. After only one year of operation in Australia, Temu has reached 8.1 million local customers, with over 11 million monthly website and app users.

Source: Global Air Cargo

10. Shopee Adjusts Commission and FSS Rates for Philippines Site

On June 27, it was announced that to continuously provide better services and resources, Shopee will adjust the commission rates and FSS (Free Shipping Service) fees for cross-border sellers' third-party warehouse stores on the Shopee Philippines site starting July 1, 2024 (local time). The commission rate for cross-border sellers' third-party warehouse stores on the Shopee Philippines site will be uniformly increased by 2.24% (including VAT). To encourage sellers to continuously optimize and enhance the shopping experience, the platform will further support sellers participating in FSS, with the service fee rates for FSS and FSS+CCB activities both being reduced by 2.24%.

Source: Cross-Border Southeast Asia

11. CMA CGM Launches French Peak Service Asia-Europe Route

On June 27, CMA CGM Group launched a new route called the French Peak Service. This special seasonal service aims to meet the strong demand for sea freight between Asia, Northern Europe, and the Mediterranean. From June 30 to early September, the route will deploy an additional seven 7,000 TEU container ships, with departures every two weeks from China, alternating between calling at ports in Northern Europe Le Havre, Antwerpand the Mediterranean Fos-sur-Mer, Malta

Source: CMA CGM

12. General Air Cargo Growth Surpasses Specialty Cargo in 2024

On June 27, an analysis by WorldACD indicated that, by 2024, the growth rate of general cargo air freight tonnage will surpass that of specialty cargo products, reversing the recent trend where the demand for air freight requiring special handling and transportation generally exceeded that of general cargo. Data from over 2 million monthly transactions in their database shows that from January to May this year, the global taxable cargo weight increased by 12% compared to the same period last year, with general cargo demand growing by 13% and specialty cargo by 10%. This contrasts sharply with WorldACD's findings from late last year. In the first eight months of this year, general cargo tonnage fell by 12% year-on-year, while specialty cargo tonnage grew by 3%, against an overall market decline of 7%.

Source: Cross-Border E-Commerce Logistics Baixiaosheng

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Public account:Cross-Border E-Commerce Logistics Baixiaosheng