All Business Articles – Page 22
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NewsThink big to address skills shortage
TIACA ACF panelYou wouldn’t know that staff shortages are one of the biggest challenges facing the air cargo industry by listening to Westjet executive vice-president, cargo, Kirsten de Bruijn.The executive vice-president, cargo for Westjet said that the company hasn’t experienced any recruiting or hiring issues in its cargo business.“Air cargo ...
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NewsSeabury highlights a mixed picture for air cargo
Sander Schuringa. Source: Air Cargo NewsWhile the air cargo industry faces dark clouds there are reasons to stay positive, according to Accenture's Seabury Cargo.Speaking at the TIACA Air Cargo Forum, the consultant's commercial manager Sander Schuringa highlighted the current headwinds facing the air cargo sector.He pointed to air cargo demand ...
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NewsAir cargo leaders optimistic on future demand and capacity
Air Cargo Forum CEO conference panel. Photo: Rebecca JeffreyOvercapacity is not expected to be an issue in the long term, according to a group of air cargo bosses.Reflecting on the future at TIACA’s Air Cargo Forum (ACF) in Miami, Tobias König, global chief executive, Rhenus Air & Ocean, said that ...
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NewsAirfreight peak season looking unlikely as demand falls again
Air cargo volumes declined 8% year on year in October - the eighth consecutive month of decline - and the outlook is equally downbeat.According to Xeneta-owned CLIVE Data Services the market outlook "remains uncertain" and there is also nothing to indicate an upturn next year from its weekly market data.There ...
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Airfreight rates decline again in October
Airfreight rates continued to buck normal seasonal trends and declined again in October as the air cargo market remained subdued.The market usually sees an increase in rates out of Asia between September and October as the industry continues to ramp up toward the peak season. However, that was not the ...
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Corporación América Airports consortium is top bidder for Nigeria cargo concessions
A Corporación América Airports (CAA)-led consortium is the preferred bidder for the Abuja and Kano airports and cargo terminals concessions in Nigeria.The consortium formed by global airport operator CAA, Mota-Engil, Engenharia e Construção África S.A., and Mota-Engil Nigeria Limited, of which CAA will hold a 51% stake, has been declared ...
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China's freighter fleet to quadruple
China’s freighter fleet is expected to quadruple in size to more than 800 aircraft in the period up to 2041, according to Boeing's 2022 Commercial Market Outlook (CMO) for China.The CMO for China predicts that the country’s growing economy will be a big factor in its commercial aircraft fleet more ...
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DSV records airfreight slowdown in Q3 as rates and demand drop
DSV reported a "reduced growth rate" for airfreight business in the third quarter of 2022 as rates declined and consumer demand dropped amid economic uncertainty.In the third quarter of 2022, the forwarder’s Air & Sea division reported a 44.2% year-on-year increase in earnings before interest and tax (ebit) before special ...
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Kuehne+Nagel sees slower Q3 airfreight growth
Kuehne+Nagel’s (K&N) air logistics division saw positive but slower growth in the third quarter of 2022 as airfreight market capacity has grown and demand dropped.The air division’s third-quarter net turnover was SFr2.8bn, up 7% from the same period of 2021, earnings before interest and tax (ebit) was SFr323m, 35% up ...
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ACS reports record H1 revenues as cargo demand continues to soar
Broker Air Charter Service reported record revenues in the first half of the year as firms turned to aircraft charters in response to supply chain issues.The company said that sales increased by 49% year on year to $770m over the first six months of the financial year, running to July ...
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DP DHL to raise outlook following improvement in e-commerce
Deutsche Post DHL will raise its outlook for operating profits after consumer e-commerce demand picked up in the third quarter of the year.The express and postal giant said that third-quarter earnings before interest and tax (ebit) is expected to reach €2bn compared with €1.8bn last year."Therefore, 2022 ebit guidance (currently: ...
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NewsHellmann and partner create new Swiss forwarding arm
Photo: Hellmann Worldwide LogisitcsHellmann Worldwide Logistics and partner ATS-Hellmann Worldwide Logistics will transfer their air and seafreight activities in Switzerland to Hellmann through the creation of its own Swiss national company.Hellmann will take over the international air and sea freight services previously performed by ATS-Hellmann at the beginning of 2023.The ...
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NewsMaersk to provide global logistics for construction equipment giant
JCB operations. Photo: MaerskShipping firm Maersk has announced a new multi-year logistics partnership with UK-based construction equipment manufacturer JCB.Under the agreement, Maersk will become the new global Lead Logistics Provider (LLP) for JCB.Maersk will offer end-to-end supply chain management services and management of JCB's appointed third-party warehousing provider.To oversee JCB’s ...
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News'Jumpy' airfreight market sees spot rates fall again
General airfreight spot rates have fallen as the air cargo market faces lower demand and more capacity.According to the latest weekly market data from Xeneta-owned CLIVE Data Services, general airfreight spot rates fell 9% year-on-year in September, to below the 2021 level for the first time this year, as returning ...
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Airfreight rates on key lanes continue gradual descent in September
Airfreight rates on key trade lanes out of Asia continued to weaken in September despite the industry heading towards the peak season.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in September rates from Hong Kong to North America declined by 18.5% compared with a year ago ...
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NewsSATS to buy Worldwide Flight Services in €2.25bn deal
Source: WFSSingapore-based cargo handler SATS has reached agreement to buy Worldwide Flight Services (WFS) from an affiliate of asset investor Cerberus Capital Management in a deal with an enterprise value of €2.25bn.The transaction will bring together WFS, the world’s largest air cargo handler with operations in the Americas and Europe, ...
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NewsDHL acquires majority stake in Dutch e-commerce specialist Monta
Leonard Aerts, chief customer officer DHL Supply Chain EMEA and Edwin van der Ham, owner and chief executive of Monta. Photo: DHLDHL Supply Chain has announced the acquisition of a majority stake in Dutch e-commerce specialist Monta.Both companies are aiming for a strong partnership to serve small and mid-sized "webshops" ...
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Magma Aviation benefits from demand for long-term freighter deals
Freighter operator Magma Aviation last year benefitted from demand for long-term contracts as companies looked to avoid space shortages by locking in capacity.In accounts just filed, the Avia Solution Group-owned company said that revenues in 2021 increased by 64% year on year to $380m and profits improved by 9.7% to ...
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SATS in "ongoing discussions” over potential WFS acquisition
Singapore-based handling company SATS has confirmed it is in “ongoing discussions” regarding a potential acquisition of cargo handler Worldwide Flight Services (WFS).SATS said in a press release on September 21 that no formal agreement has been made yet.“While the company is in ongoing discussions regarding a potential acquisition of Worldwide ...
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Gesher and Freightos merger and listing plans progress
Publicly-traded special purpose acquisition company Gesher I Acquisition Corp. and cargo booking portal Freightos have progressed their plans to merge and list the portal on the NASDAQ exchange.In June, Freightos and Gesher entered into a definitive merger agreement to see the portal being listed on the NASDAQ stock exchange.The companies ...