London – Amsterdam and London have closed the gap with Europe’s top freight airports as pilot strikes at Lufthansa and Air France shrunk cargo traffic at their Frankfurt and Paris hubs.
Panalpina’s ocean freight traffic increased by 9 percent in the third quarter, more than twice the market growth, but profit shrunk due to pressure on margins and adverse currency movements.
The slump in crude oil prices over the past three months has sharply reduced ocean carriers’ unit costs as they face declining cargo volumes in the seasonally slack fourth quarter.
Lufthansa Cargo said all its freighter flights will operate as scheduled as pilots began a 35-hour strike at midday that forced the parent airline to cancel 1,450 short- and medium-haul passenger...
Spot freight rates on the Far East-North Europe route have sunk to $705 per 20-foot container, down $33 on the previous week to a new low for the year.
The Far East-U.S. East Coast container trade is shaping up as the potential “battlefield” of the future as an enlarged Panama Canal allows carriers to cascade larger ships from the Far East-Europe...
Europe’s top container hubs have slammed the European Union’s plan to focus investment on peripheral ports in a bid to shift traffic from the dominant Le Havre-Hamburg range to the Mediterranean.
The east-west ocean container trades will experience volatile spot freight rates through the end of 2015, according to Drewry Shipping Consultants.
The idle container ship fleet has fallen to its lowest level since August 2011 with just 1.1 percent of vessels above 500 20-foot-equivalent units without work, according to Alphaliner.
Kuehne + Nagel credited rising U.S. container imports for driving a market-beating 7.4 percent increase in the global forwarding and logistics group’s third-quarter ocean freight traffic.
Ocean carriers face an uphill struggle to achieve planned general rate increases in the Asia-North Europe trade in the coming weeks against a backdrop of plummeting spot rates, according to industry...
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