Freight Forwarders to Expand Operations as Strong Chinese Exports Indicate Continued Industry Growth in 2024
DHL Rides the Wave of Chinese Exports with Multi-Million Dollar New Investments
The freight forwarder will expand its operations as robust Chinese export data indicates that the holiday season will drive industry growth into 2024.
Reading Time: 2 minutes
Danielle Popov
Publication Time: 9:30 PM on September 13, 2024
Last Update: 5:36 PM on September 16, 2024
Freight forwarder DHL has stated that the anticipated surge in exports from China will drive an increase in transportation and cargo handling activities over the last few months of 2024. The company cited Chinese export data when announcing its multi-million dollar investment plans for year-end.
In a press release issued on Thursday, the German firm said it expects “an upcoming peak with significant growth along the China-to-rest-of-the-world export routes.”
DHL plans to invest 100 million euros (approximately $110.3 million) globally in the fourth quarter to cope with the expected high volume of shipments.
Official data from August shows that Chinese exports remain strong, and analysts suggest that pre-holiday freight movements to Europe and the US should further boost these figures.
“The fourth quarter is traditionally a peak period as it coincides with the Western holiday season,” said Jayant Menon, Senior Fellow at Singapore’s ISEAS-Yusof Ishak Institute.
Source Website: South China Morning Post
