For the first time ever, South Korea sent a cargo ship to Europe through the Arctic. The journey is considerably shorter – provided the Arctic ice allows it. China and Russia also intend to make greater use of the route.

Due to falling water levels, the canal authority has limited the number of daily transit slots. With storm front El Niño coming up, the situation is likely to get worse. Meanwhile, the cost of transiting the canal has reached a record high.

A year ago, after weeks of haggling over the fine print, the EU and the US issued a joint statement setting out their trade agreement. Not everyone is convinced it has delivered.

JD.com's logistics arm posted a sharp rise in turnover and operating profit in the first half of the year. Its international network keeps expanding, underpinning the growth of Joybuy.