## Company Profile TRIPLE I AIR EXPRESS CO., LTD. — Thailand-based air express freight forwarder. Public lead data shows the contact email (airexport@iii-airexpress.com) and an investor/SD report link for III Logistics in the lead memo, indicating Triple I Air Express is operated under or affiliated with the III Logistics group. Core activities (inferred from name and category): international air export forwarding and express parcel services, on‑airport/near‑airport cargo handling, documentation and customs support for exporters and SMEs. Scale: not published in the lead; likely a national/regional forwarder focused on express/air freight rather than ocean LCL/FCL. Evidence: lead memo references III Logistics sustainability report (https://investor.iii-logistics.com/storage/download/sd-report/files/20240325-iii-sd2023-en.pdf) and the contact email airexport@iii-airexpress.com. ## Pain Points 1) Capacity & cost volatility for air lanes to Europe/Middle East/US: exporters and e‑commerce sellers are facing elevated fuel surcharges and historically high air rates (2024–25 peaks, still elevated in 2026). That squeezes margins and forces customers to ask forwarders for cheaper multimodal options or guaranteed express capacity windows (seasonal spikes for durian/fruit). 2) Perishables compliance & cold‑chain reliability: rapid growth in durian, mangosteen and seafood exports in 2026 plus stricter Chinese phytosanitary checks mean customers need verified cold‑chain handling, pre‑export inspection coordination, and documentation — a major operational burden on forwarders that must manage many small exporters. 3) SME/e‑commerce friction: Thai SMEs are scaling cross‑border sales but struggle with high parcel costs, transit time/reliability, and returns management; forwarders are being asked to provide integrated end‑to‑end solutions (cheaper lanes, last‑mile partners, customs + tax compliance) rather than spot air rates. ## Intel Summary === MULTI-DIMENSION RESEARCH === === 1. [MARKET EVENTS] – THAILAND AIR FREIGHT MARKET 2026 (SUVARNABHUMI & DON MUEANG) === **Market size, growth & role of key sectors** - IMARC estimates Thailand’s air freight market will reach about **USD 2.1 bn by 2034**, implying a **CAGR of ~5.0% during 2026–2034** from the 2025 base. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) - Report highlights **electronics, automotive components and high‑value agricultural products (perishables)** as the main export verticals underpinning growth, alongside e‑commerce and express. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) **Capacity & infrastructure – Suvarnabhumi (BKK)** - Suvarnabhumi remains the primary cargo hub; AOT’s expansion program (including SAT‑1 terminal opened 2025) is designed to lift overall airport capacity and includes **dedicated facilities for e‑commerce and express shipments** on the cargo side. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) - IMARC notes **ongoing expansion of cargo infrastructure at Suvarnabhumi** specifically “to handle increased air cargo volumes driven by e‑commerce, with dedicated terminals for express shipments under development.” ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) - The **three‑airports high‑speed rail link** (Don Mueang – Suvarnabhumi – U‑Tapao), due to open **2029**, will structurally improve inter‑airport connectivity, enabling faster truck‑to‑rail transfers of high‑value cargo between Bangkok and the Eastern Economic Corridor (EEC) industrial cluster. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Don_Mueang%E2%80%93Suvarnabhumi%E2%80%93U-Tapao_high-speed_railway?utm_source=openai)) **Capacity & role – Don Mueang (DMK)** - Don Mueang is now primarily a **LCC passenger airport** but does handle cargo, especially **express and consolidated freight trucked to/from integrator and 3PL facilities**. - Latest terminal plans: under AOT’s roadmap, a **new international terminal plus renovation of the existing terminal** are set to raise passenger capacity from **30 m (2024) to 50 m by 2030**, which indirectly increases belly‑hold cargo capacity on regional routes used for small parcels and high‑value items. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Kerati_Kijmanawat?utm_source=openai)) - Nippon Express Logistics has **upgraded its logistics systems at Don Mueang cargo location in 2026**, citing **“relatively low congestion at the cargo terminal and smooth cargo drop‑off/pick‑up enabling high‑speed transportation”**, and enabling full import/export handling at its on‑airport facility. ([logisticsmanager.com](https://www.logisticsmanager.com/don-mueang-airport-upgrades-logistics-systems?utm_source=openai)) - CAAT / AOT’s 2025 “Terminal Pool S26 Don Mueang” document confirms continued **scheduled international operations** from DMK and formal slot coordination, keeping it relevant for regional cargo flows (particularly express and mail). ([caat.or.th](https://www.caat.or.th/wp-content/uploads/2025/12/DMK_NAC_S26_Rev.02_15DEC25-SRD.pdf?utm_source=openai)) **Rate environment & fuel surcharges 2026** - Globally, IATA reported **2025 air cargo demand reached record volume** with capacity up **4.5% YoY vs Dec‑2024**, supported by strong cross‑border e‑commerce. This tightness keeps structural support under Asia outbound rates into 2026. ([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-01-29-01/?utm_source=openai)) - THAI Cargo’s **Fuel Surcharge (FSC) notice dated early April 2026** uses an average fuel price index of **689 for 1–15 March 2026** and publishes FSC scales for routes to **Europe, Middle East, SW Asia and other regions** (TC‑2, etc.) – indicating **ongoing surcharge pass‑through** rather than discounting. ([thaicargo.com](https://www.thaicargo.com/public/resources/uploads/content/cnY20260402094418.pdf?utm_source=openai)) - Independent TAC Index data (BAI series) for April 2026 show Asia outbound benchmark lanes (e.g. HKG outbound around **USD 4.6–4.7/kg**) still at elevated but easing levels vs the 2024–2025 peaks, implying **Thailand‑origin rates to Europe/Middle East remain high in historical terms, but off their extreme highs**. ([tacindex.com](https://www.tacindex.com/?utm_source=openai)) **Electronics & automotive exports – modal split implications** - The IMARC Thailand air freight report stresses **electronics and automotive components** as key drivers of air cargo demand, particularly **time‑sensitive parts and high‑value electronics** from the EEC (Rayong, Chonburi) funnelled via Suvarnabhumi. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) - OIE’s 2025 industrial outlook for 2026 flags continued growth in **automotive and electronics production for export**, supported by demand from Middle East and CLMV, which structurally sustains air cargo for **just‑in‑time components and urgent shipments**. ([oie.go.th](https://www.oie.go.th/assets/portals/1/files/monthly_report/anualreport2025_outlookfor2026.pdf?utm_source=openai)) **Perishables (fruit, seafood, chilled food) in air freight** - Thailand’s Ministry of Commerce has launched aggressive campaigns for **fresh fruit exports** in 2026 – particularly durian and mangosteen – with logistics teams negotiating at **Laos/Vietnam/China borders**; although most durian moves by refrigerated truck/rail, **higher‑value or off‑season shipments to the Middle East, Japan, and secondary Chinese cities still use air**, especially via BKK. ([nationthailand.com](https://www.nationthailand.com/business/trade/40066500?utm_source=openai)) - Perishables also include **high‑end seafood and chilled/fresh specialty products** shipped by air to **Japan, EU, and GCC markets**; these remain sensitive to **capacity cycles and temperature‑controlled handling standards at BKK cargo terminals**, which are being upgraded as part of the broader expansion program. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) **2026 trend synthesis** - **Capacity:** Belly‑capacity is rising as passenger traffic recovers at BKK and DMK, while **Thailand‑based widebody freighter capacity** is being strengthened via P2F conversions for regional operators at Thai Airways’ MRO centers (Don Mueang + EEC). ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) - **Rates:** Despite some easing vs 2024–25 peaks, **fuel surcharges remain material**, and the broader geopolitical fuel shock (Brent > USD 119/bbl linked to Hormuz issues) continues to **support higher all‑in airfreight rates ex‑Thailand**, especially on Europe/Middle East lanes. ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai)) - **Sector mix:** Growth is led by **e‑commerce parcels, electronics, automotive components and high‑value perishables**, with Suvarnabhumi as the main hub and Don Mueang increasingly positioned as a **fast‑turn express / low‑congestion cargo gateway** for integrators and 3PLs. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) **[Sources – Dimension 1]** IMARC Thailand air freight market report; IATA Jan‑29‑2026 cargo update; THAI Cargo FSC table (Apr‑2026); AOT/CAAT documents on BKK & DMK capacity; Nippon Express Don Mueang system upgrade note; Thailand OIE 2025 industrial outlook; Momentum Works / AsiaBusinessOutlook macro logistics commentary; TAC Index public benchmarks. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) --- === 2. [COMMODITY TRENDS] – THAI PERISHABLE EXPORTS 2026 (DURIAN, SEAFOOD, FRESH FRUIT) === **Macro picture – fruit & perishable exports 2026** - Ministry of Commerce data indicate **Thai fresh fruit exports in Q1‑2026 rose 56.24% YoY**; the ministry targets **at least 5% full‑year growth**, aiming for **THB 179 bn** (~USD 4.9 bn) in 2026 fruit export value. ([nationthailand.com](https://www.nationthailand.com/business/trade/40066500?utm_source=openai)) - A separate update on April‑2026 shows **agricultural exports overall rebounded 17.9% YoY in April** after eight months of decline, driven largely by fruits. ([en.thairath.co.th](https://en.thairath.co.th/news/governmentpolicy/2934421?utm_source=openai)) **Durian – volumes, prices, destinations** - Commerce Ministry figures (via Nation Thailand) show Thai fresh durian exports to China in **2025** reached **~982,016 t** with value **THB 125.9 bn**, up in volume but **value down** due to lower prices. ([nationthailand.com](https://www.nationthailand.com/business/trade/40060853?utm_source=openai)) - Another report puts **2025 shipments to China at 939,892 t, 58,072 consignments, value THB 150.3 bn**, signalling strong but price‑sensitive demand. ([nationthailand.com](https://www.nationthailand.com/business/trade/40063289?utm_source=openai)) - For **January 2026**, fresh durian exports reached **THB 10.3 bn**, **+67.1% YoY** vs January 2025 (THB 6.2 bn). ([nationthailand.com](https://www.nationthailand.com/business/trade/40063289?utm_source=openai)) - April‑2026 Commerce Ministry press note: **durian exports up 109.5% YoY**, with additional sharp growth in **rambutan (+92.8%) and lychee (+70%)**, highlighting broad‑based fruit momentum. ([en.thairath.co.th](https://en.thairath.co.th/news/governmentpolicy/2934421?utm_source=openai)) - KASIKORN Research (Dec‑2025) forecasts **Thai fresh durian prices in 2026 to fall ~2.7% to around THB 90/kg**, with export value down **~1.8%** due to competition (especially Vietnam) and stricter Chinese standards. ([kasikornresearch.com](https://www.kasikornresearch.com/EN/analysis/k-econ/business/Pages/TH-Durian-CIS3630-KR-25-12-25.aspx?utm_source=openai)) - Commerce attachés in China have already secured **1.0–1.1 m t of Thai durian and 150,000 t of mangosteen purchase commitments** for the 2026 season, underlining continued heavy China exposure. ([nationthailand.com](https://www.nationthailand.com/business/trade/40066500?utm_source=openai)) **Market diversification – China, EU, Middle East** - While China remains the primary durian market (with Thailand still the **value leader** even as Vietnam holds >50% share by **volume** in China’s 2025 imports), the Thai government is actively **promoting fruit in South Korea, India, Middle East, South Asia, EU, and Central Asia** with image‑building campaigns and live‑commerce programs. ([china.org.cn](https://www.china.org.cn/china/Off_the_Wire/2026-05/08/content_118483823.shtml?utm_source=openai)) - Commerce reports mention **“image‑building markets” in the Middle East and EU**, and more frozen products for distant markets to mitigate shelf‑life constraints. ([en.thairath.co.th](https://en.thairath.co.th/news/governmentpolicy/2934421?utm_source=openai)) **Seafood & other perishables** - MOI/OIE’s 2025 industrial outlook indicates that **fresh, chilled, frozen and processed food – including seafood** – is among the categories expected to **grow in 2026**, supported by rising demand in the Middle East and CLMV, and by India’s export restrictions that tighten global supply. ([oie.go.th](https://www.oie.go.th/assets/portals/1/files/monthly_report/anualreport2025_outlookfor2026.pdf?utm_source=openai)) - Thai seafood exporters continue to pivot towards **higher‑margin, value‑added and certified products** to the EU and US, but current publicly available 90‑day data are more macro; detailed 2026 seafood shipment figures are not yet fully published. (Inference based on 2025‑outlook language and ongoing EU demand.) ([oie.go.th](https://www.oie.go.th/assets/portals/1/files/monthly_report/anualreport2025_outlookfor2026.pdf?utm_source=openai)) **Logistics & regulatory challenges (esp. for durian and fresh fruit)** - **Chinese phytosanitary controls:** - Thailand has tightened pre‑export inspections; the Department of Agriculture briefed quarantine inspectors on **new operational guidelines for durian shipments to China for the 2026 season** after some non‑compliant consignments in 2025. ([nationthailand.com](https://www.nationthailand.com/business/trade/40063289?utm_source=openai)) - The Office of Agricultural Economics warns exporters to meet **stricter Chinese food safety rules** and cope with rising competition; despite **2025 volumes rising to ~982k t**, the **average unit value fell**. ([nationthailand.com](https://www.nationthailand.com/business/trade/40060853?utm_source=openai)) - **Production & labour bottlenecks:** - 2026 durian supply is forecast at **1.78 m t**, with eastern Thailand providing **~59.5%** of output. The Department of Internal Trade notes **labour shortages** and potential **container scarcity in peak season**, posing risks for timely exports. ([producereport.com](https://www.producereport.com/article/thai-durian-exports-face-hurdles-amid-labor-shortages-inspection-requirements?utm_source=openai)) - **Modal shifts & corridors:** - LEO Global Logistics and partners have created an integrated **“Durian Corridor” to China via rail**, using the **Thai–Laos–China railway** and new multimodal transshipment facilities at the Thai–Laos border to form a **“rail‑first” land bridge**. This is designed to **reduce dependence on volatile sea freight**, cut transit times, and improve temperature control for fresh and frozen durian. ([logistics-manager.com](https://logistics-manager.com/leo-global-logistics-forms-integrated-durian-corridor-to-china-via-rail/?utm_source=openai)) - For distant markets (e.g., EU), exporters are increasingly sending **frozen rather than fresh** durian to handle long transit times; neighbouring competitors (Thailand, Vietnam) with better production and logistics are gaining share over the Philippines in China’s durian market. ([businessmirror.com.ph](https://businessmirror.com.ph/2026/05/25/phl-durian-exports-plunge-on-supply-crunch/?utm_source=openai)) - **Climate & price pressure:** - KResearch notes climate variability and increased competition are **pushing farm‑gate and export prices down** despite robust Chinese demand; combined with stricter Chinese inspections, this makes **quality control and logistics (cold‑chain reliability, documentation) a key competitive factor**. ([kasikornresearch.com](https://www.kasikornresearch.com/EN/analysis/k-econ/business/Pages/TH-Durian-CIS3630-KR-25-12-25.aspx?utm_source=openai)) **Demand outlook 2026 – China, EU, Middle East** - **China:** - China imported **~1.87 m t of fresh durian in 2025**, with Vietnam holding **51% share by volume**, but **Thailand remaining largest by value** due to higher prices for premium cultivars (e.g., Monthong). ([china.org.cn](https://www.china.org.cn/china/Off_the_Wire/2026-05/08/content_118483823.shtml?utm_source=openai)) - Thai officials expect **steady or slightly higher durian demand from China in 2026**, but with **intensifying competition and stricter quality demands**, reinforcing the need for logistics reliability and border‑crossing efficiency. ([nationthailand.com](https://www.nationthailand.com/business/trade/40063289?utm_source=openai)) - **EU & Middle East:** - OIE and Commerce refer to the **Middle East and EU as growth markets** for Thai processed and frozen fruit and processed foods, benefitting from higher incomes and tourism‑driven food service demand; 2025–26 trade missions are targeting these regions. ([nationthailand.com](https://www.nationthailand.com/business/trade/40066500?utm_source=openai)) **[Sources – Dimension 2]** Nation Thailand and Thairath coverage of Commerce Ministry 2026 export data; KASIKORN Research durian price outlook; China.org.cn durian demand article; Produce Report on Thai durian supply and logistics; LEO Global Logistics “Durian Corridor” release; Thai OAE/OIE industrial outlook. ([nationthailand.com](https://www.nationthailand.com/business/trade/40066500?utm_source=openai)) --- === 3. [DEMAND SIGNALS] – THAILAND CROSS‑BORDER E‑COMMERCE & EXPRESS DELIVERY 2026 === **Regional e‑commerce growth context** - Momentum Works data reported in April‑2026 show **Southeast Asia e‑commerce GMV reached USD 157.6 bn in 2025, +22.8% YoY**. Thailand was the **fastest‑growing market by GMV with +51.8%**, ahead of Malaysia (+47.6%), Vietnam (+29%), and the Philippines (+23%). ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai)) - McKinsey’s earlier regional outlook (still widely cited) projected South‑East Asia’s **return logistics market** alone could reach **USD 21.9 bn by 2026**, underscoring how reverse flows and failed deliveries are becoming a sizeable logistics subsector. ([mckinsey.com](https://www.mckinsey.com/industries/logistics/our-insights/e-commerce-is-entering-a-new-phase-in-southeast-asia-are-logistics-players-prepared?utm_source=openai)) **Thailand‑specific cross‑border parcel & SME signals** - Thailand Post’s **H1‑2025** results show **workpiece (shipment) volume up 6% YoY**, total revenue **+11.6% YoY to THB 5.41 bn**, and net profit up **~362%** to **THB 631.6 m**, driven largely by parcel and e‑commerce logistics solutions. ([ipc.be](https://www.ipc.be/news-portal/general-news/2025/08/26/15/06/thailand-post-reported?utm_source=openai)) - A November‑2025 Thailand Post / Nation Thailand article highlights **Thai–Lao bilateral trade up 8.8% to THB 24 bn**, explicitly linking this to **rapid Lao e‑commerce growth and improved Thailand–Laos–China logistics via the high‑speed railway**, and Thailand Post’s cross‑border parcel services and COD offerings. ([nationthailand.com](https://www.nationthailand.com/blogs/business/trade/40058666?utm_source=openai)) - The **Jan‑2026 Asian‑Pacific Postal Union newsletter** reports Thailand Post and Lao Post expanding **cross‑border e‑commerce services and knowledge‑exchange** along the **Thailand–Laos–China economic corridor**, with an explicit ambition for Thailand Post to become a **“Trusted ASEAN Brand”** for regional parcels. ([appu-bureau.org](https://appu-bureau.org/wp-content/uploads/2026/01/Jan2026.pdf?utm_source=openai)) - Thailand Post continues to market **ASEANPACK** and EMS World products for **flat‑rate exports to eight ASEAN destinations**, and promotes integrations with e‑commerce platforms via its shipping solutions, signalling ongoing **SME‑oriented cross‑border parcel focus**. ([international.thailandpost.com](https://international.thailandpost.com/?utm_source=openai)) **Logistics pain points for exporters / online sellers** From a combination of industry commentary and seller feedback: - **High international postage costs:** - A January‑2026 discussion by Thai e‑commerce sellers notes **Thailand Post small‑packet rates to the US for a 35 g item can reach “hundreds of baht”**, making it hard to compete on price; respondents suggest consolidating shipments to overseas 3PLs or routing via cheaper hubs. ([reddit.com](https://www.reddit.com/r/Thailand/comments/1qgx3jz/ecommerce_sellers_that_sells_to_america_how_do/?utm_source=openai)) - This aligns with broader comments that **rising fuel prices and airfreight surcharges** (see Brent > USD 119/bbl, Hormuz disruption) are inflating cross‑border shipping costs across SEA, especially on Asia–Europe/Middle East lanes. ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai)) - **Transit times & reliability:** - AsiaBusinessOutlook notes that rerouting of ships around the Cape of Good Hope due to Red Sea/Hormuz disruptions has added **2–3 weeks to transit times** on Asia–Europe/Middle East routes, hampering **cross‑border e‑commerce fulfilment** relying on low‑cost sea parcels. ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai)) - For sellers shipping small parcels to Western markets, this pushes them either towards **costly air/express** or to **regional fulfilment centres/3PLs**, raising working‑capital and inventory risk. ([reddit.com](https://www.reddit.com/r/Thailand/comments/1qgx3jz/ecommerce_sellers_that_sells_to_america_how_do/?utm_source=openai)) - **Returns & reverse logistics:** - As e‑commerce matures, McKinsey projects **return logistics** will be a **USD‑21.9‑bn market by 2026** in six SEA countries, implying rising operational complexity and cost for Thai sellers handling cross‑border returns and exchanges. ([mckinsey.com](https://www.mckinsey.com/industries/logistics/our-insights/e-commerce-is-entering-a-new-phase-in-southeast-asia-are-logistics-players-prepared?utm_source=openai)) - **Platform & customs frictions:** - Sellers increasingly face **varying de‑minimis thresholds and VAT/ GST rules** in destination markets; IATA and regional analyses note that the removal / tightening of some de‑minimis exemptions has increased compliance requirements for low‑value parcels, although granular 2026 Thai‑specific numbers are not yet public. ([iata.org](https://www.iata.org/en/pressroom/2026-releases/2026-01-29-01/?utm_source=openai)) **Carrier & infrastructure responses** - **Thailand Post:** - Rolling out more **specialised parcel logistics** (e.g., healthcare, high‑value goods, breast‑milk logistics) and exploring **electric vans/e‑bikes** to control fuel exposure and improve sustainability, which may help stabilise domestic segment costs for e‑commerce shippers. ([ipc.be](https://www.ipc.be/news-portal/general-news/2025/08/26/15/06/thailand-post-reported?utm_source=openai)) - Strengthening **border e‑commerce products** with Laos and China via the railway corridor, emphasizing **COD and SME‑friendly services**. ([nationthailand.com](https://www.nationthailand.com/blogs/business/trade/40058666?utm_source=openai)) - **Air side (BKK & DMK):** - Suvarnabhumi’s **dedicated express/e‑commerce cargo facilities under development** and Don Mueang’s low‑congestion cargo terminal plus upgraded Nippon Express systems are both designed to **enable faster cross‑border express flows** and support integrators and 3PLs. ([imarcgroup.com](https://www.imarcgroup.com/thailand-air-freight-market?utm_source=openai)) **Demand outlook 2026 for cross‑border e‑commerce & express** - With **Thailand’s e‑commerce GMV up 51.8% in 2025** and regional GMV still growing >20% YoY, cross‑border parcel and express demand from Thailand is likely to **grow at least high‑teens to low‑20s % in 2026**, barring a sharp macro slowdown (inference based on GMV growth and Thailand Post volume trends). ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai)) - Growth is strongest on **intra‑ASEAN and Mekong corridors (Laos, Vietnam, Cambodia)** and **China**, where new rail‑based and postal partnerships lower cost and transit time vs air/sea, while **shipments to EU/US face higher costs and longer transit times**, pushing some Thai sellers towards **third‑country fulfilment or marketplace‑run warehouses**. ([nationthailand.com](https://www.nationthailand.com/blogs/business/trade/40058666?utm_source=openai)) **[Sources – Dimension 3]** Momentum Works / AsiaBusinessOutlook SEA e‑commerce GMV analysis; McKinsey SEA e‑commerce logistics report; Thailand Post financial and cross‑border trade releases; APPCU Jan‑2026 newsletter; Thailand Post website; IATA and macro logistics commentary; seller feedback from Thailand‑based Reddit thread. ([asiabusinessoutlook.com](https://www.asiabusinessoutlook.com/news/what-s-slowing-southeast-asia-s-ecommerce-surge-nwid-11729.html?utm_source=openai))