The air freight business has just completed its best peak season in years, but the International Air Cargo Association (IATA) has presented a sobering picture of an industry enjoying a cyclical upturn while struggling to overcome structural problems.
Strong air cargo volume on Asia-U.S. routes in the last quarter has seen airlines raising rates faster than forwarders can pass them on to customers, placing margins under pressure.
Rising volumes propelled FedEx profit up 23 percent year-over-year to $616 million in its second quarter ended Nov. 30, the second-largest U.S. transport operator reported today.
Records are tumbling at Asia’s air freight hubs of Shanghai and Hong Kong this year, with double-digit growth reported at the main terminals in November and for the year-to-date.
With the acquisition of GENCO, everything old is new again for FedEx — or at least resellable.
The German government has drawn up a draft law to curb the power of small but powerful niche labour unions than have mounted frequent strikes, mainly in the transport sector, paralyzing the nation’s economy throughout this year.
Cargolux continued its robust performance in November, flying a record volume of freight and bucking the downward trend in the European air cargo market.
Trans-Pacific shipments between Hong Kong and fast recovering North American markets drove up Cathay Pacific cargo throughput in November, with the strong demand expected to last deep into the final month of the year.
The long running investigation into Asia forwarders fixing fees and surcharges on Japan-Singapore routes between 2002 and 2007 was finally brought to a close with the Competition Commission of Singapore (CCS) handing out $5.4 million in fines.
The port of Antwerp faces a total shutdown on Monday as dockers and other waterfront workers join a 24-hour nationwide strike that will also paralyze rail freight and air cargo traffic across Belgium.