The month of May brought further challenges for airfreight rates as a combination of weak demand and a steady influx of returning belly capacity continued to impact the industry. Experts anticipate that this pressure on rates will persist throughout the year. Bruce Chan, director and senior research analyst at investment bank Stifel, expressed concerns about […]
Read MoreThe outlook for air cargo over the coming year remains mixed with several factors set to impact performance. Speaking at IATA’s World Cargo Symposium in Istanbul, IATA economist Bojun Wang predicted that air cargo demand was set to decline by 4% this year compared with 2022 levels. He said that this reflected the ongoing […]
Read MoreThe Global Shippers Forum and forwarder group Fiata have created a Charter for Protection and Governance of Data in International Trade as part of efforts to improve data protection for online booking and trading. The charter sets out the minimum arrangements for data security and confidentiality that providers and operators of digital booking and trading […]
Read MoreRecent airfreight rate data appears to show that the air cargo market may have reached a new normal but the outlook remains cloudy. Writing in his monthly column for the Baltic Exchange Airfreight newsletter, Bruce Chan, director and senior research analyst covering global logistics and future mobility at investment bank Stifel said that airfreight rates […]
Read MoreHong Kong International Airport (HKIA) retained its position as the world’s busiest cargo airport in 2022 despite the impact of Covid restrictions, according to statistics from Airports Council International. HKIA saw its cargo volumes fall by 16.4% year on year in 2022 to 4.2m tonnes as restrictions on crew hampered operations, particularly at combination carrier […]
Read MoreSingapore-based aviation services company SATS has completed the acquisition of cargo handler Worldwide Flight Services (WFS) for €1.3bn. SATS struck a deal last September to buy WFS from an affiliate of asset investor Cerberus Capital Management. The transaction has an enterprise value of €2.25bn. WFS is now a fully owned subsidiary of SATS. The ground handling specialist […]
Read MoreAir cargo capacity is continuing to climb and rose above the pre-pandemic level for the first time in four years, according to the latest market analysis from CLIVE Data Services. Global air cargo capacity increased for the eleventh consecutive month in February, up 11% on the same period last year. Meanwhile, global air cargo volumes […]
Read MoreLars Jensen, founder and CEO of Vespucci Maritime, has warned that shippers can expect to face carbon surcharges and fewer direct services from carriers in the second half of 2023, as carrier network adjustments to reduce the cost impact of Emissions Trading System (ETS) are implemented. Speaking at the TPM23 conference in Long Beach, Jensen […]
Read MoreAccording to aviation groups, China’s efforts to restructure its economy will increase demand for trade, which is expected to spill over into the air cargo markets by the end of this year. During a recent webinar, Glyn Hughes, Director General of The International Air Cargo Association (TIACA), stated that “once we can overcome the current […]
Read MoreThe latest market analysis from CLIVE Data Services reveals that air cargo capacity has exceeded pre-pandemic levels for the first time in four years. In February, global air cargo capacity increased by 11% compared to the same period last year. However, global air cargo volumes fell by 4% YoY and rates remained stable. This […]
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