CARGOCONNECT-OCTOBER2024 - Flipbook - Page 70
N EWS
US finalises tariff hikes on Chinese goods amid
industry concerns
he US has o昀케cially implemented tariff increases
on various Chinese-made
products, initially announced in
May, despite industry warnings
about potential supply chain disruptions. Starting September 27,
the new tariffs has imposed a
T
100% duty on Chinese electric
vehicles, 50% on solar cells, and
25% on steel, aluminium, electric
vehicle batteries, and essential
minerals.
Jason Oxman, President of
the Information Technology
Industry Council, criticised the
US government for dismissing
industry concerns regarding
economic impacts and supply
chain stability. The tech trade
association reported that American businesses and consumers
have already incurred a cumulative cost of US$221 billion due to
tari昀昀s under the US trade law’s
Section 301.
A recent “China Business
Report 2024” by the American
Chamber of Commerce in
Shanghai revealed that 48%
of surveyed US companies support reducing tari昀昀s on Chinese
goods to better support foreign
昀椀rms in China. The International
Monetary Fund cautioned that
unilateral tari昀昀s risk retaliation,
policy uncertainty, and weaken
global supply chains, urging the
strengthening of WTO rules.
China has opposed these tariffs, citing violations of WTO
regulations.
Allcargo Logistics ventures into
Korea, forms new warehousing
entity
E
CU Worldwide Korea, a
joint venture of Allcargo
Logistics, has launched
Allcargo ULS Terminals, a new
subsidiary to bolster its warehousing presence in South Korea.
This strategic move is aimed at
owning and leasing warehouse
spaces, with the acquisition
pending approval from Busan
port authorities. Allcargo will
hold a 49% stake in the venture,
reinforcing its commitment to
expanding in the Korean market.
Recognised for its global
LCL consolidation services,
ECU Worldwide operates in 180
countries, o昀昀ering door-to-door
deliveries across 50 markets. The
new subsidiary is set to enhance
ECU Worldwide’s cargo handling
operations, improving supply
chain e昀케ciencies and solidifying
Allcargo’s logistics footprint in Asia.
DSV acquires DB Schenker in US$15.4 bn deal
D
anish logistics leader DSV has clinched
the deal to acquire DB Schenker, Deutsche
Bahn’s logistics division, for US$15.4 billion.
This acquisition elevates DSV to the status of
the world’s largest freight forwarder, surpassing
Swiss competitor Kuehne+Nagel. The deal is part
of Deutsche Bahn’s strategy to address its US$32
billion debt and boost funding for its domestic
70 | CARGOCONNECT OCTOBER 2024
passenger services.
CVC, the other contender, had proposed a deal
with Deutsche Bahn retaining a minority stake, but
DSV’s superior o昀昀er and a US$1 billion investment
plan to bolster Schenker’s pro昀椀tability won the bid.
Despite union concerns over job losses under DSV,
the German government endorsed DSV’s proposal,
shifting the decision in its favour.
Hong Kong Air
Cargo enhances
operational
efficiency with
NAVBLUE’s
integrated solutions
ong Kong Air Cargo, a
subsidiary of Hong Kong
HAirlines,
has adopted a suite
of advanced solutions from
NAVBLUE to enhance its flight
operations. The new tools
include N-Flight Planning
for optimising flight routes,
N-Tracking for real-time
aircraft positioning, and
Navigation+ for comprehensive
navigation data. Mission+,
NAVBLUE’s Electronic Flight
Assistant, integrates essential
pilot information, reducing
workload and streamlining data
flow. Mission+ FLIGHT improves
flight preparation and closure
by minimising manual errors,
while Mission+ MAPS offers
detailed aeronautical charts.
K-Mile Asia
introduces
Thailand’s first
B767-300BCF
freighter
-Mile Asia, Thailand’s
Kintroduced
express cargo airline, has
its first Boeing
B767-300BCF freighter, marking
a major fleet expansion. Registered HS-KSA, this widebody
freighter, arrived at Suvarnabhumi Airport on September 06,
2024, is the first of its kind in
Thailand. Set to begin operations in October, it will enhance
connections between Thailand
and key markets in Southeast
Asia, China, and India. The
B767-300BCF, capable of carrying up to 51.7 tonnes of cargo,
will bolster K-Mile’s services
alongside its five existing B737
freighters.
