1. DSV Releases Q3 2024 Financial Report

On October 24, it was reported that in the third quarter of 2024, DSV's net revenue reached 6.487 billion Swiss francs (approximately $7.48 billion), a year-on-year increase of 19.3%. Gross profit was 2.187 billion Swiss francs (approximately $2.522 billion), up 5.2%; EBITDA was 661 million Swiss francs (approximately $762 million), up 3.3%; EBIT was 455 million Swiss francs (approximately $525 million), up 2%; and net profit was 339 million Swiss francs (approximately $391 million), up 5.6%. 

In Q3, DSV's maritime segment recorded a gross profit of 548 million Swiss francs (approximately $630 million), a slight increase of 2% year-on-year, while EBIT grew by 8% to 256 million Swiss francs (approximately $295 million). They handled 1.115 million TEUs, with a profit of 230 Swiss francs (approximately $265) per TEU. In air freight, DSV handled 526,000 tons, with gross profit of 434 million Swiss francs (approximately $500 million), a 6% increase, but EBIT dropped by 12% to 120 million Swiss francs (approximately $138 million).

Source: DSV

2. DSV Updates Annual Performance Forecast

On October 24, DSV reported Q3 revenue of 44.095 billion Danish kroner (approximately $6.38 billion), a year-on-year increase of 23.9%. Gross profit was 11.08 billion Danish kroner (approximately $1.6 billion), up 4%. Operating profit before special items (EBIT) was 4.42 billion Danish kroner (approximately $639 million), a slight increase of 0.5%, while profit was 2.845 billion Danish kroner (approximately $410 million), up 1.3%. DSV handled 704,000 TEUs of maritime cargo and 352,000 tons of air cargo in Q3, with maritime revenue at 14.364 billion Danish kroner (approximately $2.077 billion) and air freight revenue at 14.052 billion Danish kroner (approximately $2.032 billion). DSV also raised its annual EBITDA forecast to between 16-17 billion Danish kroner (previously 15.5-17 billion Danish kroner).

Source: DSV

3. SHEIN Tops Global Traffic

On October 24, Similarweb reported that in September 2024, SHEIN surpassed all major fashion brands with a traffic share of 2.66%, ranking first globally. For the entire third quarter, SHEIN's traffic share increased to 2.68%. SHEIN, H&M, ZARA, and Uniqlo were among the top ten fashion brands by traffic in Q3 2024, with H&M and ZARA ranked third and fourth, respectively, while Uniqlo came in sixth.

Source: Similarweb

4. JD Expands Delivery Services to Southeast Asia

On October 24, JD Express International announced the expansion of its delivery services to seven Southeast Asian countries, including Singapore, Malaysia, Thailand, Vietnam, Indonesia, the Philippines, and Brunei, allowing consumers to receive JD deliveries from China. Recently, JD Express International also launched delivery services to Japan and South Korea. JD has been increasingly focusing on “express delivery overseas,” with plans to expand its service coverage to nearly 80 major countries and regions worldwide.

Source: JD Logistics Blackboard

5. FedEx Expands Operations in Southeast Asia

On October 24, FedEx opened a new gateway facility in Denpasar, Bali, aimed at streamlining shipping processes and reducing delivery times to meet exporter demands. Export goods from Bali will now be sent directly to Singapore without going through Jakarta, providing faster and more reliable shipping services. The new facility offers a one-stop logistics service, including handling Class 9 hazardous materials and simplifying customs clearance, with goods processed directly in Denpasar to minimize delays. This move will further enhance FedEx's logistics services in Indonesia and Southeast Asia.

Source: FedEx

6. Latest Developments in Amazon’s Direct Shipping Model

On October 24, Amazon is preparing a low-cost store initiative to directly sell unbranded budget products from China to U.S. consumers. This plan has undergone internal testing, and some sellers have already sent inventory to warehouses in China, with a public launch expected this year. The low-cost store requires sellers to meet qualification standards, with all orders shipped from Amazon's operations center in Dongguan, Guangdong, offering no self-shipping service. Products can only be accessed via a dedicated app, priced under $20, covering nearly 700 product types. Shipping and storage fees are lower than domestic FBA, and items priced at $3 or less are not eligible for returns. Research shows that 47% of Chinese sellers are from Guangdong. After sending inventory to the Guangdong warehouse, sellers will ship via air freight, delivering to the U.S. within 9-11 days, aligning with duty-free policies. This initiative will help Amazon offer more affordable products to meet consumer demand.

Source: Yi'en Network

7. Lazada Partners with Taobao

On October 24, Lazada officially announced a partnership with Taobao to launch a dedicated Taobao Fashion Channel in Singapore and Malaysia, featuring over 6 million selected fashion products to enhance its fashion and lifestyle product offerings. The new fashion channel will be showcased on the Lazada app's homepage, providing a new and affordable clothing shopping option for fashion-conscious shoppers. Lazada plans to further expand this channel to include more lifestyle products and will hold a weekly “TaoFashion Day” event every Saturday, offering discounts of up to 70% on over 35,000 new items. To enhance user experience, Lazada promises free international air shipping, ensuring delivery within as fast as five business days.

Source: Lazada

8. AliExpress Launches $10 Billion Subsidy for Double 11

On October 24, AliExpress announced the launch of its $10 billion subsidy for brand exports during the Double 11 shopping festival. This marks the first time AliExpress’s subsidy program is participating in Double 11, providing brand merchants with exclusive opportunities and definitive export solutions. This year, the AliExpress Double 11 will have a three-day pre-sale from November 8 to November 10, followed by an official sales period from November 11 to November 18 (according to the local time of key countries). The indicates that this year, AliExpress will provide targeted support and concentrated investment based on the $10 billion subsidy to facilitate a diverse range of high-quality Chinese supplies to easily go global and seize the year's largest growth opportunities.

Source: NetEase Technology Report

9. Shopee Philippines Expands 5-Day Delivery Service

On October 24, to expand its logistics service coverage and enhance user experience, Shopee Philippines has added new applicable areas for its Express International (5-Day Delivery) channel. Buyers in Bataan, Batangas, Nueva Ecija, Pampanga, Quezon, and Tarlac can now choose to order and receive packages via the 5-Day Delivery channel, with additional areas to be launched gradually.

Source: Shopee

10. TikTok Shop UK Updates Key Policies

On October 24, TikTok Shop UK announced two key policy updates effective November 4, primarily concerning customer order delivery and seller performance evaluation. The updates aim to refine existing terms so that sellers better understand how the platform measures their performance. When sellers violate platform terms and policies, TikTok will manage this through enforcement measures. In terms of order delivery, TikTok will revise the criteria for delayed shipment rates (LDR) based on the seller completing “Ready to Ship” (RTS) within two business days after order creation, rather than “Transport to Ship” (TTS) status, to reduce delays caused by courier handover issues. Effective tracking rate (VTR) will also become a key metric, requiring sellers to ensure that over 95% of orders have accurate and verifiable tracking numbers to meet platform requirements.

Source: TikTok Shop UK

11. MSC Strengthens Wallaby Service

On October 24, Mediterranean Shipping Company (MSC) announced enhancements to its “Wallaby” service. The Wallaby service provides faster and more direct connections between Australia, New Zealand, and North Asia, offering higher reliability and efficiency to customers. The revised port rotation will cover new ports in New Zealand, including Bluff, and seamlessly connect MSC's global network via major hubs in Hong Kong, Yantian, Shanghai, and Ningbo. The complete port rotation is as follows: Hong Kong - Yantian - Xiamen - Shanghai - Ningbo - Sydney - Melbourne - Auckland - Bluff - Lyttelton - Wellington - Napier - Tauranga - Melbourne - Brisbane - Hong Kong.

Source: Logistics Baba

12. Maersk to Impose Peak Season Surcharge

On October 24, in response to rising market demand and to enhance global services for sellers, Maersk announced a peak season surcharge (PSS) of $1,000 per container for refrigerated cargo from Chile and Peru to Asia. This surcharge will take effect on November 1, 2024.

Source: Maersk

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WeChat Public Account: Cross-border E-commerce Logistics Baixiaosheng