1. SF Express Responds to Hong Kong IPO Progress

On September 2, SF Express responded to the progress of its Hong Kong IPO. The company received approval from the China Securities Regulatory Commission (CSRC) at the end of May and resubmitted the A1 application to the Hong Kong Stock Exchange at the end of June, giving it some control over the timing. Due to the company's ample cash flow, the core purpose of planning the H-share listing is to further internationalize the company rather than to raise funds.

Source: Kuaidi Ecological Circle

2. Amazon Experiences Warehouse Overload

On September 2, Amazon announced that its 2024 Fall Prime Day will take place in October, urging sellers to stock up in advance to prevent warehouse overload during the peak season. According to logistics industry insiders, several FBA warehouses on the U.S. West Coast, such as LGB8 and ONT8, are already experiencing overload, with pallet and floor booking times extended to several weeks. The FTW1 warehouse in the Central U.S. is also overloaded, causing tight appointment availability. In the Eastern U.S., the New York APM terminal is congested in the afternoon, resulting in extended container pick-up times, while the SAV terminal is operating normally. Additionally, unloading speeds are faster at Los Angeles and Oakland terminals, but rail transits in Los Angeles face waiting times of 7-10 days, with some delays extending to 15 days. In Chicago, there is a shortage of chassis at rail yards, requiring container pick-up with self-supplied chassis.

Source: NewRank

3. Eastern Airlines Logistics Releases 2024 Half-Year Report

On September 2, Eastern Airlines Logistics disclosed its 2024 half-year report. In the first half of 2024, the company achieved an operating revenue of 11.286 billion yuan, a year-on-year increase of 20.38%. The net profit attributable to the parent company was 1.277 billion yuan, a year-on-year increase of 0.45%.

Source: Eastern Airlines Logistics

4. China COSCO Shipping Corporation Releases 2024 Half-Year Results

On September 2, China COSCO Shipping Corporation released its 2024 half-year report, showing an operating revenue of 56.368 billion yuan, a year-on-year increase of 17.19%. The net profit attributable to the parent company's shareholders was 1.945 billion yuan. The net profit attributable to shareholders, excluding non-recurring gains and losses, was 1.799 billion yuan. The cash flow generated from operating activities was a net outflow of 1.648 billion yuan, compared to a net inflow of 678 million yuan in the same period last year.

Source: China COSCO Shipping Corporation

5. Temu Actively Inviting U.S. Sellers to Join the Platform

On September 2, it was reported that Temu is actively bringing U.S. and European brands into its market to drive global sales. It is reported that Temu currently has over 300,000 sellers and aims to reach global sales of $60 billion by 2024. The company has recently hired staff in Europe and the U.S., inviting local sellers to join the platform. Temu is seeking to break the ceiling of low-priced goods by enhancing its market image through brand collaboration.

Source: Ebrun

6.Amazon Adjusts Package Shipping Time at One Site

On September 2, Amazon U.S. announced that, starting from October 25, 2024, the shipping time options from China to the U.S. (excluding Alaska, Hawaii, and other territories) will be adjusted to 2-4 days and 14-20 days, shortening the maximum shipping time from 28 days to 20 days.

Amazon reminded sellers that from October 25, if the manually configured handling time is two days or more slower than the actual time, the system will automatically enable handling time, and it cannot be disabled. Sellers with custom, large, or heavy SKUs can apply for manual handling if necessary.

Source: Amazon

7. Lazada and Daraz Complete Deep Integration

On September 2, it was announced at the Lazada & Daraz Sellers Conference that Lazada and Daraz have completed a deep integration. This includes the merger of the Lazada and Daraz teams, reorganization of the structure, talent recruitment, and the reshaping of growth strategies over the past few months. Additionally, the merchant central systems have been unified, simplifying operations. Daraz Seller Center has been upgraded to align with Lazada’s backend functions, allowing merchants to manage both platforms in one place. LazMall merchants will automatically receive the Daraz Mall badge and corresponding traffic weighting. Promotional events like 11.11, 12.12, and Payday will be synchronized across both platforms, and from July onwards, Lazada’s advertising solutions and related product technologies have been rolled out to Daraz.

Source: Elian Commerce

8. UK E-commerce Platform Fruugo Opens to Chinese Sellers

On September 2, it was reported that the UK e-commerce platform Fruugo will host its first seller conference to relaunch the Chinese market on September 12 this year, officially resuming seller recruitment. Fruugo had opened its platform to Chinese sellers as early as 2019 but only began focusing on the Chinese market in 2023.

It is important to note that Fruugo introduced a policy in September 2023 limiting the initial upload of SKUs for new accounts, posing a significant challenge for sellers with a large number of products. Since Fruugo’s main traffic source is Google Shopping, it is crucial for Fruugo sellers to closely monitor Google Merchant Center.

Source: AMZ123

9.Shopee Suspends Inventory Service

On September 2, it was announced that Shopee will stop operating the "My Shopee Inventory" service starting from September 16. After the service ends, sellers' stores will continue to ship normally. Sellers needing inventory adjustments and order fulfillment can operate through each store’s backend.

Sellers are required to close the inventory and order synchronization function in "My Shopee Inventory" before September 16, 2024, and after canceling the store API authorization, modify it through each store’s backend.

Source: Chuhaiwang

10. ESL Expands Far East-Middle East Service Network

On September 2, ESL announced improvements to its existing Galaxy (GLX) and Cosmos (CMX) services while introducing the new Sirius (SMX) service, focusing on major ports in southern China, namely Nansha (China) and Dachan Bay (China). The upgraded GLX and CMX services will start from Busan and Shanghai, respectively, on October 29, while the first SMX service will commence on November 8. ESL’s improved GLX and CMX services, along with the new SMX service, will enhance coverage between the Far East and the Middle East.

   GLX service rotation: Busan (South Korea) - Qingdao (China) - Xiamen (China) - Dachan Bay (China) - Port Klang (Malaysia) - Jebel Ali (UAE) - Dammam (Saudi Arabia) - Bahrain (Bahrain) - Busan (South Korea).

   CMX service rotation: Shanghai (China) - Ningbo (China) - Shekou (China) - Singapore (Singapore) - Jebel Ali (UAE) - Khor Fakkan (UAE) - Sohar (Oman) - Port Klang (Malaysia) - Shanghai (China).

   SMX rotation: Nansha (China) - Dachan Bay (China) - Port Klang (Malaysia) - Jebel Ali (UAE) - Hamad (Qatar) - Nansha (China).

Source: Logistics Baba

11. ONE Launches New Services Connecting East Asia and the Middle East

On September 2, it was announced that ONE (Ocean Network Express) is launching new weekly services—“Gulf Asia Express (GLX),” “Central China Middle East Express (CMX),” and “South China Middle East Express (SMX)”—to connect East Asia and the Middle East. The details of the new services are as follows:

Gulf Asia Express (GLX): The port rotation will be Busan (South Korea) > Qingdao (China) > Xiamen (China) > Dachan Bay (China) > Port Klang (Malaysia) > Jebel Ali (UAE) > Dammam (Saudi Arabia) > Bahrain > Busan (South Korea). The turnaround time is set at 49 days, with the first arrival expected in Busan on October 29, 2024.

Central China Middle East Express (CMX): The port rotation will be Shanghai (China) > Ningbo (China) > Shekou (China) > Singapore > Jebel Ali (UAE) > Sohar (Oman) > Port Klang (Malaysia) > Shanghai (China). The turnaround time is set at 42 days, with the first arrival expected in Shanghai on October 29, 2024.

South China Middle East Express (SMX): The port rotation will be Nansha (China) > Dachan Bay (China) > Port Klang (Malaysia) > Jebel Ali (UAE) > Hamad (Qatar) > Nansha (China). The turnaround time is set at 35 days, with the first arrival expected in Nansha on November 8, 2024.

Source: Logistics Baba

12. Zhejiang Accelerates Cross-Border E-Commerce Development

On September 2, it was reported that the Zhejiang Provincial Government Office issued the "Zhejiang Province Action Plan to Accelerate High-Quality Development of Cross-Border E-Commerce (2024-2027)," outlining five key initiatives to propel the growth of high-quality cross-border e-commerce and to establish Zhejiang as a leading global hub. By 2027, the province's cross-border e-commerce scale is expected to double from 2024 levels, with more than 10 cross-border e-commerce platforms surpassing 10 billion yuan in annual transaction value. The plan also emphasizes the phased cultivation of cross-border e-commerce enterprises, encouraging traditional industrial and trade companies, specialized and new enterprises, trade circulation enterprises, and domestic e-commerce sellers to engage in cross-border e-commerce activities and to promote the integration of "cross-border e-commerce + industrial clusters."

Source: Securities Times  

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Official Account: Cross-Border E-Commerce Logistics Baixiaosheng