Air Cargo

Rising volumes propelled FedEx profits up 23 percent year-over-year to $616 million in its second fiscal year quarter, 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.

Global air cargo revenue will rise to $63 billion in 2015 from an estimated $60 billion this year, but will remain roughly 5 percent lower than in 2010, according to the International Air Transport Association.

Lufthansa Cargo managed to increase traffic in November despite ongoing strikes by pilots, while its leading European rivals posted lower volumes as they prepare to downsize their freighter operations.