1. New Developments for SHEIN, TEMU, and TikTok Shop in Southeast Asia

On October 10, news emerged from the LatePost team that Shein is in talks with Shopee regarding a collaboration. It is reported that Shein’s beauty brand Sheglam is negotiating to enter the Shopee platform. Earlier in May, Shein also discussed opening an apparel outlet channel with Lazada, but that plan has not yet materialized.  

Following TikTok's precedent, Temu is exploring an acquisition deal with Indonesian e-commerce company Bukalapak, though Temu officially denied these claims. Bukalapak stated that it was unaware of any acquisition plans by Temu, and any relevant details will be disclosed in compliance with legal requirements once available. Earlier this year, TikTok spent $840 million to acquire a controlling stake in Tokopedia, Indonesia's second-largest e-commerce platform.  

Sources: LatePost Team, MSN

2.SF Holding Reacquires Over 20.77 Million Shares

On October 10, SF Holding released an update on its share buyback plan. As of September 30, 2024, the company had repurchased over 20.77 million shares via centralized bidding through its dedicated securities account for share buybacks, with a total buyback amount of approximately ¥760 million, accounting for 0.43% of the company’s total equity.  

Source: Eastmoney.com

3. UPS to Add Over 200 International Flights

On October 10, UPS announced it had shortened global delivery times in the Asia-Pacific region and increased capacity for the peak season. The global service upgrade benefits customers shipping to over 35 countries in Asia, Africa, and the Middle East. Delivery times to the Asia-Pacific region have been shortened by up to two business days. UPS will also add over 200 flights from the Asia-Pacific region to Europe and the U.S. to meet peak demand in 2024.  

Source: AsiaOne

4. Deutsche Bahn Approves Sale of DB Schenker to DSV

On October 10, Deutsche Bahn officially announced its approval to sell its freight forwarding business DB Schenker to Danish transport and logistics group DSV for €14.3 billion. The transaction, which still requires regulatory approval, is expected to be completed next year, with the total sale value potentially reaching €14.8 billion. The merger will create the largest air freight forwarder by volume and revenue, with an estimated annual income of €39.3 billion.  

Source: Deutsche Bahn

5. China Post Group Revenue Reaches ¥472.171 Billion for January-August 2024

On October 10, China Post Group Chairman Liu Aili stated in a World Post Day address that China Post ranked first globally in terms of both revenue and profit in the 2024 Fortune Global 500 rankings. From January to August this year, China Post generated revenue of ¥472.171 billion, with profits of ¥70.476 billion, maintaining strong growth momentum. With 120,000 postal vehicles, 42 cargo planes, and 174 global port channels, China Post has made substantial progress in building a self-sustaining international logistics network.  

Source: China Post News

6. DHL Partners with Toshi for New Service

On October 10, DHL Express announced a partnership with delivery service provider Toshi to offer more diverse last-mile delivery options for online shoppers in the UK's M25 region. Customers can choose one- or two-hour specific delivery windows between 10:00 AM and 8:00 PM daily. This service is available seven days a week and can be activated by DHL customers without requiring additional system settings.  

Source: DHL

7. Annual Spending of Temu Shoppers Reaches $247

On October 10, data revealed that the average annual spending of Temu shoppers is $247, with six average purchase transactions. Among these, 70% of customers are repeat buyers. Data from Numerator shows that Temu is particularly popular among younger generations, with millennials making up 22% more of the shopper base than the average consumer and Generation X shoppers 18% more.  

Source: Numerator

8. Amazon Signs Memorandum of Understanding with India Post

On October 10, Amazon signed a strategic memorandum of understanding with India Post to enhance logistics cooperation. Amazon plans to leverage India Post's last-mile coverage to provide fast and reliable delivery services across all servable postal code areas in India, including remote regions.  

Source: Amazon

9. Hong Kong Cargo Airlines Opens New Freight Route

On October 10, Hong Kong Cargo Airlines launched a new international cargo route between Hong Kong and Birmingham, operated by Airbus A330-200 freighters with one round-trip flight per week. This is the second UK route for the airline following the launch of the London route in February.  

Source: Hong Kong Cargo Airlines

10.Over 120 New International Cargo Routes Opened from January to September 2024  

On October 10, data showed that more than 120 new international cargo routes were opened in China this year. According to the China Federation of Logistics and Purchasing's Air Logistics Branch, as of September 30, 127 new international cargo routes have been opened nationwide, with more than 370 weekly round-trip flights added.  

Source: CCTV News

11.IATA Releases August Air Cargo Data

On October 10, the International Air Transport Association (IATA) released regular data for the global air cargo market in August 2024, showing strong demand growth. Global air cargo demand, measured in cargo ton kilometers (CTKs), increased by 11.4% year-on-year in August 2023 (international demand grew by 12.4%). This marks the ninth consecutive month of double-digit year-on-year growth.  

Source: IATA

12.ONE Announces Route Adjustments

On October 10, Ocean Network Express (ONE) announced route adjustments, with the upgraded WA1 route adding a call to Cotonou port. The route will no longer cover Qingdao Port, as services to Qingdao will be handled by the SW2 route.  

Source: ONE

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Public WeChat Account: Cross-border E-commerce Logistics Bai Xiao Sheng