All Flexport Articles – Page 2
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News
Clark hits out after Flexport exit
Former Flexport chief executive Dave Clark has declared the company is "facing serious internal and industry challenges" following his sudden departure last month.Clark, who previously spent more than 12 years working at Amazon, resigned from the chief executive role last month after just one year in service.Flexport founder Ryan Petersen ...
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Reports: Flexport CFO out?
Flexport has reportedly ousted its chief financial officer Kenneth Wagers only weeks after chief executive Dave Clark made a sudden exit from the firm.This is according to media reports from The Wall Street Journal and other publications.Wagers took up the role in 2021 and was tasked with defining Flexport’s financial ...
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More signs of a 'firmer' air cargo market
There were further signs that the air cargo market was firming up last week after more than a year of demand declines.The latest weekly figures from data provider TAC Index show that the overall BAI airfreight rate index last week increased by 4.8% on the previous seven days.Meanwhile, the year-on-year ...
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Is the air cargo market finally showing signs of improvement?
Emerging reports suggest that the air cargo market may finally be showing signs of a slight improvement after a year and a half in the doldrums.The latest market report from data provider WorldACD shows that air cargo demand last week increased by 4% on the previous seven days, which itself ...
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Flexport adds new end-to-end e-commerce tool
Flexport has launched a new e-commerce tool for online firms that allows them to manage the supply and delivery of goods.The freight forwarder, which last week saw chief executive Dave Clark suddenly leave his role, said the new tool offers stock replenishment directly into Fulfillment by Amazon (FBA), Walmart Fulfillment ...
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Flexport withdraws 75 job offers after sudden Clark exit
Flexport is rescinding job offers for more than 75 people after they were offered positions during a hiring freeze just a day after chief executive Dave Clark suddenly left the firm.The company's returning chief executive, Ryan Petersen, said in a social media post that the company was "rescinding a bunch ...
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Petersen back at Flexport as Dave Clarke departs
Ex-Amazon executive Dave Clark has left his role as chief executive of Flexport with Ryan Petersen stepping back in to run the company.Clark took up the role in September 2022 as the forwarder looked to expand in e-commerce and fulfillment.In a social media post, Clark said that Petersen had changed ...
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Older freighters starting to leave the market
Older freighters are being taken out of the transpacific market as they become increasingly uneconomical due to lower rates, according to Flexport.Speaking during a webinar, Flexport president ocean and air Sanne Manders said that the current market was characterised by low demand but added that carriers are starting to "rightsize" ...
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News
Flexport founder joins the firm's funder
Flexport founder and former chief executive Ryan Petersen has joined a San Francisco-based venture capital firm that is a source of funding for the logistics technology platform.He confirmed the move to Flexport investor Founders Fund in a post on his personal Twitter account.I have joined Founders Fund. If you are ...
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NewsVideo: Air cargo sector highlights its key challenges
At last week’s IATA World Cargo Symposium in Istanbul, the Air Cargo News team spoke to a variety of attendees to find out what they see as the main challenges currently faced by the air cargo industry. The recruitment challenge was one theme mentioned by many of ...
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InsightsTranspacific market: from the doldrums to new highs
After a difficult 12 months, carriers and forwarders expect business on the transpacific to take off in the latter half of the year.Cathay Cargo, the recently rebranded freight arm of Cathay Pacific, is leading the push for a new intermodal service to facilitate flows from the Dongguan area in the ...
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News
Airfreight rates climb on the transpacific in March
Transpacific airfreight rates picked up in March, although there were further declines from Hong Kong to Europe and across the Atlantic.The latest statistics from the Baltic Exchange Airfreight Index (BAI) show that prices from Hong Kong to North America in March increased by 9% compared with February to $5.38 per ...
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NewsMore signs of some improvement in air cargo
More reports have emerged this week suggesting that there might be a slight improvement in the air cargo market led by the ramping up of production in China.In its latest weekly market report, data provider TAC Index pointed out that the overall Baltic Air Freight Index covering prices by forwarders ...
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InsightsAir cargo outlook: challenging market ahead
It’s been an interesting period for the air cargo industry as volumes have been trending downwards since the first half of last year, while the capacity situation continues to change and rates remain above pre-Covid levels despite recent declines.The fall in volumes reflects high inflation that is affecting consumer spending, ...
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News
Flexport to cut back "overstaffed" workforce by 20%
Flexport has announced it is trimming the number of staff it employees by around 20% in response to expected reduced volumes following increasingly challenging economic conditions.According to a release on the freight forwarders blog, Flexport co-chief executives Dave Clark and Ryan Petersen issued a note to employees on January 11 ...
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News
No signs of Chinese New Year rise in air cargo demand
Any hopes of a surge in air cargo demand ahead of the Chinese New Year/Lunar New Year holiday appear to have faded as economic pressures continue to put the breaks on consumer spending.The two-week holiday this year falls on January 22 but industry players are not expecting to see the ...
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NewsFlexport adds another ex-Amazon exec to management team
Teresa Carlson, president and chief commercial officer. Photo: FlexportFlexport has appointed former Microsoft and Amazon executive Teresa Carlson as president and chief commercial officer.She will oversee Flexport's sales, marketing and communications, as well as its humanitarian aid and sustainability arm arm Flexport.org.Carlson will also spearhead the company's expansion in new ...
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News
China's air cargo supply chain faces more pressure
Freight forwarders are reporting a mixed picture of the current supply chain situation in China as Covid lockdowns continue following recent protests against the government's pandemic policy.China's pandemic measures are continuing to have a negative impact, although market rates remain similar to the previous week, according to Flexport.“The Covid outbreak ...
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China faces slow airfreight demand as Covid containment continues
As China enforces continued Covid containment measures air cargo demand is “slow” in the north of the country according to Flexport.The freight forwarder said that rates were also down in its October 25 freight market update.Reporting on North China, Flexport said: “Demand is slow, especially for US midwest and USEC ...
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Soft market conditions continue in air cargo
Soft market conditions continue in air cargo as trade worries, high inflation and new Covid lockdowns impact demand.This week's market round-ups from forwarders and analysts point to a weakening market in terms of demand, although rate declines have eased.Flexport mentioned lockdowns being introduced in Ningbo and their potential to hit ...