1.JD Logistics May Acquire a Logistics Asset

On November 18, news broke that JD Logistics and private equity firm Hillhouse Capital are in advanced talks to acquire local logistics assets in Indonesia from the LOGOS Group. This potential deal could help JD Logistics expand its business footprint in Southeast Asia, according to multiple sources speaking to DealStreetAsia.

Source: DealStreetAsia

2. Kuehne+Nagel Acquires a Well-known Logistics Company

On November 18, Kuehne+Nagel, the world's largest freight forwarding company, announced it has acquired a 51% controlling stake in U.S.-based logistics company IMC Logistics, which specializes in container transportation between ports and rail hubs. IMC Logistics, headquartered in Collierville, Tennessee, is a family-owned business. Kuehne+Nagel and IMC Logistics have long been business partners. The Swiss logistics giant did not disclose the exact price for the acquisition of IMC shares. IMC Logistics operates 49 offices in the U.S., employs 1,700 staff, and handles approximately 2 million TEUs annually.

Source: Kuehne+Nagel

3. USPS Announces Fiscal Year 2024 Results

On November 18, USPS announced its financial results for the fourth quarter of fiscal year 2024. USPS generated total revenue of approximately $19.687 billion in the fourth quarter, an increase of about 3% compared to the same period last year. Specific product breakdowns include: USPS Ground Advantage generated $3.337 billion in revenue, up 44.5% year-over-year, with a volume of about 588 million packages; Parcel Select generated $2.6 billion in revenue, up 3.8%, with a volume of 920 million packages. For the full fiscal year 2024, USPS reported operating revenue of $79.5 billion, an increase of $1.4 billion or 1.7% year-over-year. Transportation and parcel revenue grew by $625 million (2%), First-Class Mail revenue increased by $830 million (3.4%), and Marketing Mail revenue rose by $292 million (1.9%) compared to the previous year.

Source: USPS

4.FedEx Upgrades Xiamen to U.S. Cargo Route

On November 18, it was announced that the "Xiamen-Memphis" international cargo route has officially increased its frequency. The route, which departs from Xiamen Gaoqi International Airport, with a stopover in Incheon, South Korea, connects Anchorage, Alaska, and Memphis, Tennessee. The route has been operating once a week since June. Now, with increased frequency, the route will run five times a week from Tuesday to Saturday. The new service will use B777 freighters, offering more than 290 tons of weekly airlift capacity, shortening the shipping time for some exports from Fujian to North America by one to two days.

Source: Xiamen Daily

5.J&T Express' Global Parcel Volume Surpasses 100 Million on Singles' Day

On November 18, J&T Express announced that during the 2024 Singles' Day shopping peak season, its global order volume surged, achieving a breakthrough on November 12, with daily global parcel volume surpassing 100 million packages. Singles' Day is a traditional shopping peak season in both China and Southeast Asia. From October 20 to November 12, J&T Express saw significant growth in parcel volume in both regions. In China, the peak season from October 20 to November 12 saw an average daily parcel volume of nearly 66 million, up 25% year-on-year, marking a record high. In Southeast Asia, from November 1 to November 11, the average daily parcel volume exceeded 15 million, up 73% year-on-year, showing strong growth.

Source: J&T Pulse

6.Temu Vietnam Site Adjusts Order Value Limit

On November 18, Temu's Vietnam site recently adjusted its sales policy, setting new order value limits. As of now, users can only purchase goods with values ranging from 887,000 VND to 1 million VND (approximately $30 to $40 USD). Orders below 887,000 VND will not be processed, while orders exceeding 1 million VND will prompt users to remove items that exceed the limit. Temu stated in its app that this move is aimed at "offering more goods at lower prices" and "preventing packaging waste."

Source: Temu

7.Ozon Plans to Optimize China-Russia Cross-border Trade Processes

On November 18, Russian e-commerce platform Ozon announced its plans to actively participate in foreign economic activities (FEA) to optimize the process of transporting goods from China to Russia. For this purpose, Ozon has registered a legal entity called GlobalOETLLC and established a temporary storage warehouse in the city of Blagoveshchensk for more efficient goods inspection and customs clearance. This move aims to shorten delivery times and ensure transparency in shipments from China. By controlling the entire logistics process, Ozon hopes to accelerate delivery times and reduce costs, further strengthening economic and trade ties between the two countries.

Source: Ozon

8. New Urumqi to Moscow Cargo Route

On November 18, Beijing-based Airloft Aviation Logistics Company, which specializes in international air freight to Russia, announced plans to open a new Urumqi to Moscow DME (Domodedovo) airport route starting November 25. The route will be operated by a Boeing B737-800F aircraft, with two weekly flights on Mondays and Thursdays, primarily carrying cross-border e-commerce goods and general trade cargo.

Source: China Air Logistics Association

9.Nanning to Yangon International Cargo Route Successfully Launched

On November 18, Nanning Communications Investment Group launched a new Nanning to Yangon international cargo route. This is the sixth new international cargo route launched by the group this year. The opening of this route will further strengthen the aviation logistics network between Nanning and ASEAN countries, providing a solid foundation for the construction of cross-border logistics systems. The Nanning-Yangon route takes about 4.6 hours one way, with eight weekly flights. Outbound cargo mainly includes electronic products, while return flights primarily carry seafood from the Yangon region. The launch of this route marks a significant breakthrough in Nanning Communications Investment Group’s international logistics business and will provide an efficient and stable air logistics channel between China and Myanmar.

Source: Civil Aviation Network of China

10. Maersk Adjusts Far East to Oceania Peak Season Surcharge

On November 18, Maersk announced adjustments to the Peak Season Surcharge (PSS) from China, Japan, South Korea, Hong Kong, and Mongolia to Australia, Papua New Guinea, and the Solomon Islands, starting in December.

Source: Logistics Baba

11.Shenzhen's Imports and Exports Grew Nearly 20% in First Ten Months

On November 18, it was reported that in the first ten months of the year, Shenzhen's total imports and exports reached 3.76 trillion yuan, an increase of 19.2% year-on-year, marking a record high for the same period. Exports totaled 2.37 trillion yuan, up 17.5%, while imports reached 1.39 trillion yuan, up 22.2%. Both export and import volumes hit record highs for the same period. Trade with APEC economies reached 2.54 trillion yuan, up 18.9% year-on-year, ranking first in the country.

Source: Shenzhen Customs

12.Ministry of Commerce Supports Cross-border E-commerce Service Platform Construction

On November 18, during a regular press briefing, the spokesperson for China's Ministry of Commerce noted that in the first ten months of this year, China’s total trade reached 36.02 trillion yuan, setting a record high for the same period. The spokesperson, He Yungian, stated that moving forward, the Ministry of Commerce will collaborate with local governments and related departments to increase financing support for small and micro foreign trade enterprises. They will also guide banking institutions to optimize their overseas presence and improve services that support enterprises in exploring international markets. Additionally, the Ministry of Commerce will support regions with the capacity to explore building cross-border e-commerce service platforms, providing enterprises with resources for legal, tax, and overseas connections.

Source: Ministry of Commerce

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