Dimerco Express Corporation (5609) announced the consolidated sales revenue for the month of May 2024 reached 2,185 million, an increase of 23.6% compared to the same period last year, and a growth of 12.7% compared to the previous month, due to the exceptional competitiveness and operational advantages of our physical channels and virtual digital platform. This marks the highest monthly revenue for the current year and sets a historical high since the end of the pandemic from January 2023 to the present. The consolidated sales revenue of May 2024 YTD amounted to 9,573 million, representing a year-on-year growth of 9.1%.
In May, the airfreight market saw a continuous surge in demand driven by eCommerce products, artificial intelligence (AI) chips, and servers. The usual off-season in May did not materialize this year. Additionally, the shift of production from China to countries such as Thailand and Vietnam by enterprises has also boosted the transaction volume in the Asian market. With the global consumer demand steadily increasing, significant growth is expected in the third quarter of this year, and the airfreight market is also anticipated to experience notable growth.
In the ocean freight market in May, the strong demand persisted under the disruptions caused by the Red Sea crisis and its cascading effects on the global supply chain. During the first four months of 2024, Trans-Pacific Eastbound (TPEB) shipments increased by 19.1% YOY. However, the capacity on the west coast decreased by 14%, and on the east coast by 11%. The continuous reduction in shipping capacity by ocean carriers has led to a supply shortage. Furthermore, to avoid the high anti-dumping import tariffs that might be imposed in the U.S. and Europe by the end of the year, there was a significant increase in ocean freight exports of Chinese eCommerce, electric vehicle (EV), and renewable energy-related goods. The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar continuously.
At the same time, driven by strong demand, the ocean freight rates on the TPEB route continued to rise, impacting the airfreight market. Similar to the situation in 2021, it is expected that from June onwards, more consolidated ocean shipments will switch to airfreight, with the conversion on the TPEB route being particularly pronounced. Dimerco’s strong competitiveness in both air and ocean freight will inevitably lead to dual benefits.
With Dimerco’s global network of forwarding and logistics locations and our cloud-based SCM international logistics service platform with clear market positioning and effective digital marketing to attract customers, Dimerco has been able to deliver solid results. With the development on Digital Platform and Cloud Networking SCM Platform of Dimerco Value Plus System® and Cyber Security Certification, Dimerco enhances not only on supply chain value to customers and continuous business development with multiple high-quality multinational clients but also on additional benefits and productivity to worldwide network via application of Semi-Automation during its Digital Transformation to meet our customers’ needs. May 2024 marks the highest monthly revenue for the current year and sets a historical high since the end of the pandemic from January 2023 to the present. With positive prospect on upcoming air & ocean freight market, we look forward to achieve continued growth in higher revenue and profitability.
Spokesperson: Jack Ruan +886 921-062500 / +8862 2796-3660#222
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