All Flexport Articles – Page 3
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Insights
Transpacific airfreight pricing dips below 2021 levels in August
Average airfreight rates on major air cargo routes to North America slipped below last year's levels in August as demand remained flat during the month.Figures from the Baltic Exchange Airfreight Index (BAI) show that in August, average airfreight rates from Hong Kong to North America declined 3.6% year on year ...
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News
Air cargo market remains flat ahead of upcoming peak season
The air cargo market remains flat as the industry heads towards the traditional peak season.Data provider TAC Index said that its latest figures showed that overall airfreight rates according to the Baltic Exchange Index (BAI) were last week down 0.8% compared with the prior seven days."Prices did not move much ...
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News
Hong Kong faces more cross-border trucking restrictions
Supply chains operating through Hong Kong are once again facing restrictions on cross-border truck operations due to Covid-restrictions.Freight forwarder Dimerco said that increasing Covid cases around Shenzhen have led to the city reducing daily cross-border truck movements from 3,500 to 1,500.The restrictions began on July 25 and reduce truck capacity ...
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News
Rates predicted to stay high despite a muted air cargo peak season
Transportation rates are expected to stay above pre-pandemic levels for the foreseeable future despite the recent slowdown in demand.Seko Logistics chief growth officer Brian Bourke said that demand had slowed this year compared with 2021 and that the constant peak season experienced over the last two years has been replaced ...
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News
Shanghai airfreight operations stable for now as Covid cases creep up
Covid is on the rise again in Shanghai but “there has been no impact on airfreight” so far and turnover at Shanghai Pudong Airport (PVG) has bounced back, according to Flexport.In a freight market update on July 12, the freight forwarder said that trucking also remains unaffected, despite the rise ...
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News
Asia-Europe capacity is “volatile" against growing demand
Demand continues to be strong out of China, but capacity between Asia and Europe is “volatile” and increasingly limited.This was according to Flexport’s Freight Market Update on June 14, which focused on insights for air and ocean freight on major European trade lanes.Speaking about Far East Westbound airfreight trade, Laurie ...
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NewsAmazon exec Dave Clark takes Flexport CEO role
Dave Clark. Source: FlexportAmazon executive Dave Clark - who helped "transform" the e-commerce giant and shape its supply chain strategy - is set to become the new chief executive of freight forwarder Flexport.Clark will join on September 1 and replace Flexport founder Ryan Petersen as he moves over the role ...
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News
Shanghai port congestion could pile on airfreight pressure
Covid lockdown measures in Shanghai are drawing to a close but a backlog of shipping containers at the Port of Shanghai could once again fuel airfreight congestion and demand.In its May 24 airfreight update for North China, Flexport said that businesses are reopening after Covid curtailment measures forced them to ...
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News
Shanghai capacity creeps back but trucking trouble remains
Flight capacity is slowly improving but trucking remains in trouble as the Shanghai lockdown goes on and there are concerns a lockdown could be rolled out in Beijing.Flexport said in a market update on April 26 that Shanghai continues to undergo lockdown due to high amounts of Covid cases.A round ...
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News
Shanghai factories to restart production but supply chain issues continue
Factories in the Shanghai area are slowly returning to production in a closed-loop system but supply chain disruption is expected to continue for some time.Companies were last week asked to submit plans to stop of the spread of Covid-19 before they could re-start production.In total, 666 companies have been white ...
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NewsLockdowns spread in China as Shanghai measures could ease in May
Photo: ShutterstockShanghai lockdown measures that are impacting airfreight operations in the city and putting pressure on supply chains are expected to continue for the next two to three weeks.This is according to Flexport, which warned that although there is light at the end of the tunnel for Shanghai, cities near ...
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News
Supply chain costs to rise as Ukraine crisis bites
Freight forwarders are warning of higher supply chain costs as the impact of the invasion of Ukraine disrupts transportation operations.The forwarding sector said the airspace restrictions imposed by Russia, European states, Canada, the UK and in North America were forcing airlines to cancel and adjust services."Adjustments to flight schedules are ...
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InsightsPutzger perspective: Outlook bright and tight
Copyright: Jaromir Chalabala/ ShutterstockStrong air cargo growth is expected to continue in the first half of 2022, but with continued pressure on capacity, writes Ian Putzger.Despite, and partly because of, ongoing turbulence, air cargo keeps going strong. The industry flew through 2021 with an 18.7% increase in traffic over 2020 ...
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News
Ukrainian airspace closes while impact on trade expected
Ukrainian airspace has been closed as navigation services declare the region an active conflict zone.Early this morning, the European Union Aviation Safety Agency (EASA) issued a conflict zone information bulletin covering Kiev, Lviv, Dnipropetrovsk, Simferopol and Odessa flight information regions for all altitudes.Additionally, as a precautionary measure, the EASA said ...
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NewsFlexport is launch partner for Eastern Air’s express freighter service
Boeing passenger 777. Photo: BoeingFlexport has become the launch partner for Eastern Air’s express freighter service, with a multi-year contract using B777s with converted main deck cabins for e-commerce goods.US-based Eastern is expected to begin flying its B777 express freighters, once approved by the Federal Aviation Administration, on behalf of ...
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News
Natilus secures $6bn in purchases
Autonomous cargo drone developer Natilus has announced advanced purchase commitments of more than $6bn for the delivery of 440+ aircraft in pre-orders.Orders are from companies including Volatus Aerospace, Astral Aviation, Aurora, Dymond and Flexport.Earlier this month, Flexport completed a $900m investment round and has signed a Letter of Intent (LOI) ...
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News
Flexport secures funding as it looks to expansion
Flexport has secured $935m in funding to be used to "accelerate development of its technology platform" and expand.The freight forwarder said the money would allow it to add new locations and markets, continue building a "logistics tech ecosystem" and invest and partner with new companies in the industry.It added that ...
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News
Flexport turns to air cargo charters as it faces a robust market
Flexport has added more air cargo charter capacity in response to what it expects to be another robust year for airfreight.The freight forwarder has announced a deal with JetOneX, which currently operates B747Fs, to provide services on the Asia to Europe trade lane.The service will operate twice a week between ...
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News
Atlas Air and Flexport expand partnership
Atlas Air will expand its charter partnership with freight forwarder Flexport to add a third Boeing 747-400 freighter from September.This long-term charter agreement will broaden Flexport’s network of dedicated freighters to include service from Asia to Los Angeles (LAX), Miami (MIA) and soon, Chicago (ORD).The additional freighter will increase Flexport’s ...
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NewsFlexport appoints head of Europe
Douglas Brown. Photo: FlexportFlexport has appointed Douglas Brown, currently vice president Flexport Asia, as the company’s new leader for Europe.Brown replaces Jan van Casteren, who is leaving the company.After relocating to Flexport’s Europe headquarters in Amsterdam this March, Brown will focus on diversifying the digital freight forwarder and customs broker’s ...