Shipping Data - Global container freight index CCFI reported at 1200.73 points, down 2.56% month-on-month[5] - Shanghai Container Freight Index (SCFI) at 1489.68 points, down 3.94% month-on-month[5] - Ningbo Container Freight Index (NCFI) at 1053.86 points, down 3.11% month-on-month[5] Air Freight Data - Global air cargo index BAI reported at 2071 points, up 2.17% month-on-month[5] - BAI30 at 3460 points, up 2.06% month-on-month[5] - BAI80 at 4455 points, up 0.84% month-on-month[5] Market Trends - SCFI has declined for nine consecutive weeks, with significant drops in the US West and East routes, at 9.8% and 10.7% respectively[19] - FedEx increased import handling fees from $1.5 to $2.5 per package, a 67% increase, effective August 18[13] - UPS will implement new dimensional weight pricing rules, tightening thresholds for additional fees[13] Cross-Border E-commerce Developments - Temu shifts focus to the European market as US tax policies impact growth, with GMV in Europe surpassing that in the US[15] - Trump plans to impose a 250% tariff on semiconductor and pharmaceutical products, potentially impacting trade dynamics[15]

Investment Rating - The report indicates a downward trend in the cross-border logistics sector, with a decline of 1.68% in the cross-border logistics index [9][12]. Core Insights - The global container freight rates are on a downward trajectory, with the CCFI reporting 1232.29 points, a decrease of 2.30% month-on-month [7]. - The air cargo index BAI reported 2027 points, reflecting a decrease of 1.07% month-on-month, indicating a tightening in air freight capacity due to increased demand ahead of tariff deadlines [7]. - The report highlights significant developments in cross-border e-commerce, including new policies affecting import taxes and logistics costs in various regions, which may reshape market dynamics [15][16]. Summary by Sections 1. Global Cross-Border Logistics Important News - New international air cargo routes have been established, with 20 new routes opened in July, totaling 137 routes for the year, enhancing the air freight network [18]. - The U.S. has announced the cancellation of the low-value import tax exemption for goods valued under $800, effective August 29, which will impact air cargo volumes [20] 2. Cross-Border Logistics Important Data Changes - The shipping price index shows a decline, with the SCFI at 1550.74 points, down 2.63% month-on-month, and the NCFI at 1087.66 points, down 2.06% [7]. - The air cargo index BAI30 and BAI80 also reported declines of 1.65% and 0.25% respectively, indicating a broader trend of decreasing air freight rates [7]. 3. Capital Market Perspective on Cross-Border Logistics - The cross-border logistics sector has seen a cumulative decline of 7.26% since the beginning of 2025, reflecting ongoing challenges in the market [12]. - The report notes a divergence in stock performance within the cross-border logistics sector, suggesting varying impacts on individual companies [9].