2024 Global Logistics

In 2024, global logistics will gradually resume growth amid geopolitical uncertainty. Trump’s tariff proposal, strict inspections by the U.S. Customs, the listing of SF Express and Air China, and rising global shipping prices have become the focus of the year. The following is a review of major cross-border logistics events in 2024:

1. Trump plans to raise tariffs on China In November, U.S. President-elect Trump announced plans to impose an additional 10% tariff on Chinese imports and a 25% tariff on Mexican and Canadian goods.
2. U.S. Customs strictly inspects small exemptions for customs clearance In May, U.S. Customs strengthened supervision of e-commerce platforms, and many customs clearance companies suspended T86 small exemptions. SEKO Logistics was suspended from participating in T86 customs clearance for 90 days.
3. The Israeli-Palestinian conflict pushed up shipping prices The Red Sea crisis caused ships to detour around the Cape of Good Hope, extending the voyage, triggering overbooking and freight rate increases since May. Hapag-Lloyd, Maersk and other shipping companies announced price adjustments, and the Shanghai Export Container Freight Index rose to 2460.34 points in December.
4. The conflict between Russia and Ukraine affects European logistics. European customs have strengthened inspections on Russian-Ukrainian related airlines and railway transportation. Enterprises have turned to sea, air or third-country transit to avoid risks.
5. Logistics companies are going public
   · May: YiDa Cloud was listed on the main board of the Hong Kong Stock Exchange.
   · November: SF Holdings was listed on the Hong Kong Stock Exchange, raising HK$5.661 billion.
   · December: Air China Cargo was listed on the A-share market, and its stock price rose by 334.8% on the first day.
6. The overseas warehouse area of ​​​​GuanCang exceeded 2 million square meters. The total storage area of ​​​​GuanCang in the world exceeded 2.2 million square meters, and multiple warehouses in the United States and Europe were added, and the global network layout was fully upgraded.
7. Overseas warehouses become partners of cross-border e-commerce platforms
   ·GuanCang and Lege become official cooperative warehouses of TEMU.
   ·WanYiTong, GuCang, and Meiou cooperate with AliExpress.
   ·DianPingFang teamed up with SHEIN to launch a certified warehouse.
   ·TikTok Shop cooperates with GuCang, Xiyou, and WanYiTong.
8. DSV acquires DB Schenker In September, Denmark’s DSV acquired DB Schenker for approximately 14 billion euros, becoming the world’s largest freight forwarder.
   
9. FedEx business restructuring and spin-off In June, FedEx integrated multiple business segments and planned to spin off the freight division FedEx Freight and list it within 18 months.
10. UPS won the USPS contract and sold its business In April, UPS replaced FedEx as the USPS air freight supplier. In June, UPS sold Coyote Logistics for US$1.025 billion.
    In 2024, global logistics will move forward steadily amid challenges and opportunities, and companies will actively respond to complex situations through strategic adjustments and international cooperation.