Hong Kong’s largest air cargo terminal has teamed up with a Pearl River Delta ocean shipping and logistics heavyweight to increase its regional reach and drive up air freight business through the airport.
Shippers using C.H. Robinson Worldwide to move truckload freight saw pricing drop 3 percent on average in the fourth quarter. The logistics operator's volume, net revenue and profit, on the other hand, all rose.
Global air cargo traffic increased 2.2 percent year-over-year in 2015, less than half the 5 percent rise in 2014, due mainly to sluggish trade growth in Europe and Asia-Pacific, according to the International Air Transport Association.
ANA Holdings Inc. and Japan Airlines Corp. both saw their group net profits soar in the first nine months of the fiscal year ending March 31 on a year-over-year basis, despite lower cargo revenues.
Manchester Airports Group posted a 4.3 percent year-over-year increase in 2015 cargo traffic at its four U.K. airports, driven by new freighter services and growing express deliveries.
Cargolux bucked the downward trend in Europe’s air cargo market, boosting traffic by 7.4 percent in 2015 and unveiling plans to increase its freighter fleet.
Lackluster global trade will do air and ocean carriers out of Asia no favors this year as both sectors struggle to balance excess capacity with declining demand.
U.S eastern railroads, parcel providers and trucking companies are warning shippers that a winter storm with blizzard conditions affecting 18 states will delay shipments Friday and through the weekend.
Atlas Air Worldwide Holdings’ plan to acquire competitor Southern Air Holdings will diversify the air cargo carriers’ fleet, strengthen its relationship with its biggest customer, DHL Express, and position it to grow in the U.S. and globally, according to a BB&T analyst.
Cargolux is to invest $77 million in Cargolux China, a new joint venture carrier, scheduled to start operations in 2017.